Alliance Trust is moving more of its investments division out of Dundee, but the organisation’s headquarters will remain in the city.
The fund management business is sending more staff to its offices in Edinburgh and London, where most investment activities are conducted.
The timing of the move and number of personnel involved is still being calculated.
The change will allow Alliance Trust Savings to expand within the Dundee headquarters.
The workforce and workload of the savings division has risen following the takeover of the Stocktrade stockbroker operation from Brewin Dolphin.
The parent group has over the last year gone through a series of reforms after pressure from its largest minority shareholder.
Elliott Advisers’ call for improved investment performance led to the chairman and chief executing leaving.
New chairman Lord Smith of Kelvin recently expressed confidence that progress was being made in a reform agenda.
Both Alliance Trust Savings and Alliance Trust Investments recorded losses in 2015. Savings’ assets under administration grew 32% to £8.5 billion due in part to the acquisition of Stocktrade.
A spokesman for Alliance Trust said the Dundee office, especially the savings division, has experienced strong growth.
Employee numbers had grown 10% last year, and the growth is expected to continue.
He continued: “Alliance Trust has been reviewing where best to base the different teams, and the most effective use of available space.
“Whilst the final decisions on timings have yet to be made, the focus for Alliance Trust Investments will be the offices in Edinburgh and London.
“This will free up the space required in Dundee, which will remain the group’s headquarters.”