A new facilities management firm launched by an Ascendant Group company and a subsidiary of Canada’s Black & McDonald has already won the business of Bermuda’s two biggest banks.The Royal Gazette has learned HSBC Bermuda closed down its entire facilities management, making 14 jobs redundant, and outsourced the work to the new company, called iFM Ltd.An HSBC spokeswoman said yesterday 14 people had worked in its facilities management department, however, since being let go, most of them had found new jobs at the bank or at iFM. The spokeswoman said the work was outsourced to iFM starting on February 1.“Fourteen HSBC staff members in the facilities management department were impacted and had the opportunity to apply for available positions within iFM and to apply for other roles at the bank,” HSBC Bermuda said in a statement yesterday. “Nine employees were successful in obtaining employment within iFM as well as alternative roles within HSBC. One employee decided to pursue further education and two employees retired. The remaining two employees left the bank on redundancy terms.”Butterfield Bank had already outsourced its facilities management work to local company, BAS Serco.BAS Serco provides facilities management and maintenance services to a number of local companies at their owned or leased properties.A Butterfield spokesman confirmed yesterday: “With effect from 31 December 2011, facilities management services for Butterfield’s properties in Bermuda have been provided by iFM Limited. Prior to that date, facilities management services were provided by BAS Serco.”iFM is jointly owned by inVenture and a Bermuda subsidiary of Canadian firm Black & McDonald, which is part of the project team building Bermuda’s new King Edward VII Memorial Hospital. inVenture was incorporated in 2010 by Ascendant Group, owner of Belco and Bermuda Gas.A spokeswoman for Ascendant and Belco said inVenture was a holding company through which Ascendant Group will “pursue new opportunities on Island”.The spokeswoman said iFM will make announcements about its management team at the appropriate time, and was currently hiring a full roster of staff.She said they currently employ 11 staff, all of whom are Bermudian, and have an advert running to hire an additional staff member.“inVenture, as a Bermudian company, understands the Island’s requirements and is positioned to pursue strategic alliances with local and international firms,” the spokeswoman said. “inVenture will leverage Ascendant Group’s collective expertise to deliver multifaceted infrastructure projects.“iFM Limited, a facilities management company that was formed in 2011, is jointly owned by inVenture and a local subsidiary of Canadian firm Black & McDonald Limited.”Paget Health Services, the consortium behind the KEMH project, describes Black & McDonald as “a Canadian mechanical, electrical, network solutions and facilities management company with an extensive track record in mechanical, electrical and offshore engineering, and of providing services to Canadian hospitals.“Black & McDonald has completed more than $350 million in mechanical and electrical construction projects at 28 Ontario hospitals since 2005.”In addition, it provides facilities management services at several healthcare facilities in Canada.Paget Health Services said the company has established a Bermudian company, Black and McDonald (Bermuda), “to give it a long-term presence on the Island.”