Nordbank starts talks on job cuts

HSH Nordbank is believed to have begun talking to London office staff about redundancies. The German bank is quitting international lending to focus on its core German business.

As part of this process the London team recently appointed advisers and receivers on several London sites it lent on, including Aldgate Place, E1 and Triton Court. The bank would not comment on redundancies.

But a spokeswoman said: “HSH Nordbank has reduced its investment portfolio and  has made adjustments to its network of locations. “There will be further adjustments and the London branch will be closed by the  end of 2012.”

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