Ulster Bank not affected as RBS cuts 550 positions

Ulster Bank staff will not be affected by its parent company’s decision to axe 550 jobs as it scales back its advisory services, a spokesperson said.

Royal Bank of Scotland, Ulster Bank’s parent company, is to cut in-person investment advice in favour of a new online investing platform.

The shift affects customers with less than £250,000 (€322.46m) to invest and will eliminate about 220 workers who helped provide such advice, according to a report in the Financial Times.