RBS International has confirmed the closure of its international wealth management business in Jersey, putting 33 jobs at risk.
The redundancies will affect the bank’s International Wealth Management and Technology Services teams.
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According to RBS, the decision falls in line with local competitors, who have withdrawn from the market, or raised their entry criteria.
RBS International spokesperson said: "The changes we are making will inevitably have an impact on jobs. This is clearly difficult news for our colleagues and we will do everything we can to support them throughout the process."
The move comes after the bank, which is 80% owned by the UK government, posted a loss of £3.for the year 2014.
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