Bell says finance sector still being tested

Fri, 27 Apr 2012

The Chief Minister believes the Island's finance sector will continue to be tested as banks make changes to adjust to the changing economic times.

Mr Bell is responding to news that HSBC is scaling back operations in the Channel Islands and the Isle of Man.

Two or three redundancies are expected at the branch here but most of the job losses are in Jersey where 90 posts will go.

Mr Bell says the world has changed dramatically since the credit crunch.

He expects there'll be more challenges ahead.