Capital G has cut four jobs at the bank.

A bank spokesperson stated yesterday: “Capital G can confirm that it has recently made four positions redundant as part of its ongoing re-evaluation of its business in meeting its client needs and strategic objectives.”

The spokesman also confirmed that Capital G's senior vice president, head of personal and commercial banking Michael Veale was no longer with the bank.

Mr Veale was appointed to the role in 2010.

The most recent redundancies have been confirmed almost a year to the day since it was announced the last tranche of Capital G employees were made redundant. On October 11, 2012, it was reported that thirteen employees had lost their jobs, twelve of whom were Bermudian.

The bank said then that the decision was taken: “as a result of the identification of recent operational efficiencies and the need to meet the skill sets required in order for the bank to better achieve success in the future.”