The company said the cuts were the result of a company-wide restructuring of back- and middle-office operations, which had already taken place elsewhere in the company, and which were aimed at improving efficiency.
As part of the restructuring, the Guernsey trust operation is moving from its current location in St Peter Port to offices in St Julian’s Court, also in St Peter Port, where it will share facilities with its Rothschild sibling, Rothschild Wealth Management.
Rothschild remains "fully committed" to the island, the company said in a statement, "with RTG an integral part of our wealth management business", led by managing director Emma Roberts.
In the statement, Roberts said: “We continue to focus on the island as a key jurisdiction, due to the strong demand from private clients from around the world, as well as the opportunity to work with the network of experienced trust administrators, lawyers and accountants."
Rothschild Trust Guernsey said it would help those affected by the job cuts to find alternative employment.
