UP to 40 jobs are going in the finance industry as two major players change their funds operations in the Island.

It is understood that about 15 people at one finance house have been told that their jobs will no longer exist as the US group is moving its hedge funds business ‘to other offices in Europe’.

Meanwhile, a bank is shedding 25 posts and closing its fund administration business.
The banking group says that the decision had been taken ‘following a comprehensive review’

Full story in Monday’s JEP