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Santander UK advisory jobs at risk as it reviews unit
February 13, 2013 / 11:31 AM / 5 years ago

Santander UK advisory jobs at risk as it reviews unit

LONDON, Feb 13 (Reuters) - Santander’s UK arm said on Wednesday it is reviewing the future of its bancassurance division, putting around 800 jobs at risk, potentially adding to thousands of staff cuts as banks address new rules clamping down on investment advice.

Santander suspended its investment advice service in December and pulled its advisers “off the road” for more training as tougher new rules were introduced aimed at making financial advice more transparent for customers.

Separately the FSA said on Wednesday it was investigating a major UK lender for possible breaches in the quality of its investment advice, which four industry sources said was Santander UK. (Reporting by Steve Slater; Editing by Kirstin Ridley)

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