JOB losses could be on the cards at one of the largest banking groups in the Island.

UK media sources reported yesterday that Royal Bank of Scotland was about to cut around 3,000 jobs from its global banking and markets workforce.

RBS International employs 1,000 people in Jersey and includes part of the global banking and markets operation, as well as corporate banking, wealth management, retail banking, international personal banking and centralised and back-office functions. RBSI also includes the NatWest banking group and RBS Coutts.

Ian Henderson, the chief executive of RBSI in the Channel Islands, Isle of Man and Gibraltar, said in a press statement: ‘The RBS group continues to review its business in the light of market conditions and we will shape our business locally, as we always do, to reflect both our efficient operating model and the market opportunities we face.’

• Picture: Ian Henderson, chief executive of RBSI in the Channel Islands