Axa Bancassurance is to cut 70 adviser roles working with Yorkshire and Clydesdale Banks.
The roles will be cut across northern England and Scotland. Staff involved in the cuts were informed of the move in a briefing this morning.
An Axa spokeswoman says: “Axa has today announced changes to its Clydesdale and Yorkshire bancassurance structure resulting in a net reduction of around 70 roles across northern England an Scotland. Those people affected have been briefed, and ever effort will be made to keep redundancies to a minimum.”
Clydesdale and Yorkshire entered into a strategic partnership with Axa in November 2008 which saw Axa handle investment and protection advice.
Clydesdale and Yorkshire announced in April that 1,400 roles were to be cut by September 2015. Axa has around 230 advisers working through the banks.