Four people have been made redundant at Clarien Bank in the past month, according to a company spokesman.

However, he said that the bank had hired more than that number for “new key roles related to business-generating activities”.

The spokesman said that all staff had been treated in accordance with the Employment Act, as well as Clarien’s internal policies.

Clarien also reported a shuffling of staff into other areas of the bank.

Continuing investment in technology along with a restructuring of resources into “business growth, risk mitigation and operational efficiency”, had resulted in the redeployment of workers, the spokesman said.