A major reshuffle at Bermuda Commercial Bank (BCB) will see two senior officials leave and another one redeployed.

Head of banking Edwina Lambert is expected to move to another senior post, while head of asset management Lola Myshkita has resigned.

And chief information officer Michael Cranfield and BCB are believed to be negotiating an amicable severance deal.

A spokeswoman for the bank confirmed the three would go.

She said: “There are several changes going on at Bermuda Commercial Bank at the moment as part of an organisational wide restructuring process.

She added that Ms Myshkita had resigned for “personal and family reasons”.

But the spokeswoman said Ms Myshkita would stay on beyond her scheduled departure date at the end of December until the end of January next year “to better assist with the transitioning of clients”.

She added: “The head of banking position will disappear. In its place we have created two new senior relationship manager’s positions.

“That entire department — currently staffed by nine persons — is undergoing a restructure and will end with ten positions including the two senior relationship manager’s positions.

“We fully expect that all of the posts will be filled by local hires.”

The spokeswoman said: “It is significant to note that Bermuda Commercial Bank is adding five new positions over the next few months as part of this restructuring process and that overall headcount at Bermuda Commercial Bank has increased by 20 per cent over the past year.”

But she declined to comment on Mr Cranfield.

The spokeswoman said: “Bermuda Commercial Bank is unwilling to disclose the nature of discussions with other employees as these discussions are confidential and ultimately form part of an employee’s personnel records.”