Royal Bank of Canada has announcement the closure of its Guernsey branch, putting nearly 90 jobs at risk.
The bank says it has made the ‘difficult decision’ to close its office in Guernsey following a review.
"RBC Wealth Management has made the difficult decision to close its office in Guernsey following a review of its business and centralise all relevant activity, predominantly in Jersey and other centres."
However, it may take up to two years before full closure of the branch.
The impact of the decision on the 89 islanders who work there will be determined by their role, but RBC says it is committed to communicating with employees as the firm closes its activity.
RBC will remain open in Jersey and across Europe in its Capital Markets, Global Asset Management and Wealth Management businesses.
Cyclist suffers serious leg injuries in St Peter crash
'Arrive at work feeling more positive'
Profits rise at CI Co-op
Police Chief blasts 'unacceptable' levels of drink-driving
Trio of Laureates lined up for Jersey Festival of Words
Recovery Hub website offers free mental health courses
Jersey and Guernsey both lift trophies in Siam and Muratti weekend
Islanders encouraged to foster with new model of support
