A spokesperson for Butterfield has released the following statement:
“Butterfield regularly evaluates its operations, capital levels and efficiency according to market conditions and business needs.
“Regrettably, some roles across the business have been impacted as part of a Group restructure to position ourselves for the future.
“Our commitment to serving clients in the Channel Islands remains unchanged, including our ongoing expansion into additional financial products for local residents and our previously announced acquisition of selected Credit Suisse trust assets in Guernsey.”
Express asked how many job losses there have been in Guernsey, but Butterfield chose not to answer.