Santander has confirmed it has stopped offering investment advice to new customers resulting in the potential loss of 724 jobs.
It informed staff of the decision on March 11. The move follows a strategic review of Santander's Bancassurance Division. The bank also said it would launch a new Financial Planning Team comprising 150 staff for existing investment customers. Individuals affected by today's announcement will be considered for these roles. In addition, Santander said in a statement that it has other roles within retail, including the mass affluent ‘select' division and business banking which provide opportunities for redeployment. An individual consultation period has started that will run up ...
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