Citibank to create 500 jobs in Belfast in a day of mixed news for banks

THERE was mixed news for banking in the North yesterday with Bank of Ireland announcing it is to relocate a number of positions out of Belfast while Citibank is to create 500 jobs in a new investment.

Bank of Ireland said, as part of its cost-efficiency plans across its operations, it is to “consolidate” and move 270 positions in business support activities from Belfast and London to its existing operations in Dublin and Bristol. The move is part of an overall reduction of 750 positions across the bank’s businesses in Ireland and internationally.

“The planned changes, which are subject to consultation with affected staff, would ensure the business support activities involved are delivered in a manner that optimises operational efficiency and capability,” Bank of Ireland said in a statement. “They form part of the bank’s EU approved restructuring plan announced in July 2010, which provided clarity on the future shape of Bank of Ireland group.”