A leading Bermudian bank is to shed some positions in its global network — but there was no word last night on the implications for local staff.

A spokeswoman for Butterfield Bank did not comment specifically on Bermuda.

However, she told The Royal Gazette: “Butterfield regularly evaluates its operations, capital levels and efficiency according to market conditions and business needs.

“Regrettably, some roles across the business have been impacted as part of a group restructure to position ourselves for the future.”

She added: “We continue to operate in all of the jurisdictions we call home, and there are no changes to the products and services we offer clients.”

Outside Bermuda, Butterfield operates in the Cayman Islands, Guernsey, Jersey, Singapore, Switzerland, the Bahamas and Britain.