Fifteen new jobs are to be created in Guernsey following the merger of two channel island banks. Deutsche Bank offshore's Jersey and Guernsey private client trustees units will combine and move to Guernsey over the next 12 months.
The Chief Executive of Deutsche Bank Offshore, Peter Pichler, says the decision was not made lightly.
He said the decision was reached after a detailed analysis of operations on both islands.
He added that a number of central functions are already located in Guernsey and the move made sense
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