Guernsey Press

‘Hundreds of jobs available in finance’

RECRUITMENT agencies have reassured employees of RBC Wealth Management set to lose their jobs that there are plenty of other roles available in finance.

The Royal Bank of Canada offices are in Dorey Court at Admiral Park. (Picture by Peter Frankland, 31662812)

Nearly 90 jobs will go as the Canada-headquartered bank announced it would be closing its Guernsey office at Admiral Park.

The decision followed a review of the business to centralise operations in Jersey in a two-year phased closure.

‘There are hundreds of finance jobs in the market at the moment, so there shouldn’t be a problem with employees finding new jobs,’ said Situations managing director Melissa Campbell.

‘These people have great transferable skills as well so there are definitely opportunities in different areas such as relationship management, and it is the same with all of the support staff as well, there are plenty of opportunities.’

As of October, just 0.8% of Guernsey’s workforce was unemployed.

Tony Jones, senior recruiter at Source Recruitment, said that there is an ongoing business boom in the finance sector with many jobs available.

‘The recruitment market is hectic at the moment, and most of the clients we represent are hiring,’ he said.

‘There are hundreds of jobs available so RBC employees won’t have a problem, and the market will remain this way as the company winds down.’

RBC expects the closure to be phased over two years, but the impact on each individual will depend on their job.

The future is also uncertain for four employees at Sancus Lending Group, an alternative finance provider in Hirzel Street.

It has been in the island since 2014 and also announced its Guernsey office would close, due to it being finance function only.