In addition to the unnamed individual, approximately 20 back office staff will keep their jobs, according to a source close to Threadneedle.
The outsourcing of LVAM’s £8.4bn of assets to Threadneedle, will bring a multi-manager range of funds to the firm that has so far been lacking.
Campbell Fleming, global head of distribution at Threadneedle, said: "We run a substantial range of managed funds that are top quartile. With the addition of LVAM funds, it is a logical extension of our first class asset allocation approach.
"If you have a look around what multi-manager funds do, you have people that select good managers. But in reality, that selection is always a lot better if it is made in the context of terrific asset allocation."
Threadneedle currently has six managed fund of funds, which invest in their own collectives, but they have no external, third party research capability.
Fleming continued: "Within the LVAM funds we will extend that asset allocation view into, potentially, third party funds as well."
He refused to be drawn on the final staffing arrangements come the 31 of October, when the transition will be completed.
"We are not confirming or denying anything on this. These are people’s careers and it is always a very fluid matter," he said.
In its initial release on the partnership with Threadneedle, LVAM said the main funds would remain in their current structure and would stay segregated.
But if no fund managers move with the LVAM funds, as it would so far seem, and Threadneedle has a multi-manager hole to fill, who will run the eight LVAM multi-manager funds?
Campbell said the firm was close to finalising its plans for the multi-manager range and these would be announced in due course.
