Abstract
This work is dedicated to systems of matrix nonlinear evolution equations related to Hermitian symmetric spaces of the type $\mathbf{A.III}$. The systems under consideration generalize the $1+1$ dimensional Heisenberg ferromagnet equation in the sense that their Lax pairs are linear bundles in pole gauge like for the original Heisenberg model. Here we present certain local and nonlocal reductions. A local integrable deformation and some of its reductions are discussed as well.