ABN Amro to cut 500 investment jobs

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The cuts reflect the need to tackle costs amid difficult market conditions, as well the bank's desire to organise its business along more global lines.

About 150 jobs are going in European and emerging markets equities, including Argentina, Russia and South Africa, where ABN closed its office last month.

While intending to keep covering the emerging markets, the bank is keen to do so more from London, which it believes will be more cost-effective.

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