Kleinwort Hambros is set to make up to 70 staff redundant as part of a cost-cutting drive under its new leadership, we can report exclusively.

A Kleinwort Hambros spokesperson said that following a dedicated review to deliver “more sustainable and profitable growth”, the bank had proposed a cost reduction plan which would reduce headcount. Impacted staff were currently going through a consultation process.

“Kleinwort Hambros’ underlying business is well-positioned for growth and it remains committed to its clients in the UK, Gibraltar and the Channel Islands,” the spokesperson said.

“The business h...