London job losses on the cards at Bank of New York
London-based custodians at Bank of New York could soon find themselves supplanted by colleagues in Manchester.
Reports suggest the Bank of New York is looking to expand its Manchester-based staff from 120 to 300 people by the end of the year. By 2009, it plans to employ 750 people in the city.
Investment & Pensions Europe quotes a bank spokesperson, who says the new jobs in Manchester could impact London operations. Some staff will be given an opportunity to transfer.
