Capital G Bank Ltd last night confirmed it has made five positions redundant as of last Friday.

A Capital G Bank spokesperson said last night that the redundancies were made as part of its ongoing organisational transformation plans, and were from various positions across the bank.

“Several new positions have also been recruited over the last several months as part of the bank’s growth strategy into new business lines and an overall focus to re-skill and realign human resources around client service and operational effectiveness,” the spokesperson said.

In an October 2012 reorganisation Capital G had made 13 positions redundant.

Capital G recently amalgamated with Clarien Group Ltd, a wholly owned subsidiary of Bermuda exempted company CWH Ltd. The January 7 deal gave the newly formed Bermuda company a controlling interest in Capital G Bank Ltd. Edmund Gibbons Ltd, who had wholly owned the institution, remains involved as a minority shareholder.

The spokesperson did not comment on whether or not further redundancies were planned for the future.