Credit Suisse has made a small number of "isolated" redundancies within its Trust department in Guernsey.
The firm told Express there are not expected to be any further job cuts related to the recent redundancies.
In a statement, Credit Suisse confirmed the five job cuts, explaining that they were made as part of an isolated programme.
Credit Suisse said it remains committed to its local operations: "Credit Suisse remains firmly committed to Guernsey. The recent redundancies are an isolated event."
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