HSBC has confirmed that 28 jobs in the island have been put at risk following a planned shake-up at its offshore banking operation.

HSBC Expat – formerly HSBC International – has two teams, one based in the Isle of Man, dealing with new accounts.

But these are being replaced by just one team.

This had led to a total of 29 jobs being put at risk, all but one of these being in the Isle of Man.

An HSBC spokesperson said: ‘New HSBC Expat customers are supported during the account opening process by two teams, one currently based in the Isle of Man.

‘The change in our operating model will mean that HSBC Expat international customers are supported by just one team overseas.

‘This change will mean that 29 jobs will be placed at risk, 28 in the Isle of Man and one in Jersey. We are currently supporting colleagues who are impacted by these changes.’

Last month, staff at Barclays were told there will be redundancies in the island.

Barclays is expected to make up to 900 roles redundant across the British Isles, with unions in the UK criticising the timing in the run up to Christmas.