RBS International confirms redundancies

Banking group 'streamlining operations' across four jurisdictions

RBS International has confirmed redundancies as it looks at 'streamlining' some of its operations including those here on the Isle of Man.

The offshore banking and wealth management arm of the NatWest Group is headquartered in Jersey but has offices based on Athol Street in Douglas.  

It was first reported that around 50 jobs were at risk between RBSI's sites in Jersey, Guernsey, Gibraltar and the Isle of Man after the company announced changes which it says will 'simplify' how it operates.

They include 'centralising' some teams to reflect the evolving nature of the financial services industry to become simpler and more digital.

RBSI has confirmed to Manx Radio that the number of redundancies being made here on the Island is 'less than 10'. 

Meanwhile the company says it is 'committed to delivering long-term value for our customers and supporting sustainable growth' across all of its jurisdictions. 

A spokesperson for RBSI said: "Importantly these changes do not affect our ability to serve customers across our jurisdictions. 

"They support our ambition to grow in each of our markets while delivering an even better experience for customers.

'We are supporting all impacted colleagues through the changes and offering alternative roles where possible under ringfencing rules and regulations."