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IoM jobs affected as Lloyds sells islands-based business

Impacts fewer than ten Island employees

A number of Island employees are to be affected by the sale of a section of Lloyds Banking Group.

The bank's islands-based funds and portfolio investment business has been sold to Brooks Macdonald.

Lloyds says the sale means there'll be a total of 80 'role reductions' across teams in Jersey, Guernsey, Alderney and the Isle of Man.

The bank employs more than 700 people in the crown dependencies.

However a company spokesperson has said it will affect fewer than ten staff members on the Island, with 400 employed in total here.

It says that it will work to support its colleagues and no one will be required to leave before the end of this year.

The bank says it's been faced with 'difficult decisions' and any loss of any jobs is regrettable.

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