Private bank Van Lanschot Bankiers is to reduce its workforce by between 10% and 15% in an effort to realise major cost savings.

In addition, CEO Floris Deckers is to stand down during the year. ‘The changes in and around the sector and the start of a new programme have made me realise new leadership is necessary,’ Deckers said in a statement.
The aim of the reorganisation is to save €60m a year in costs from 2015. Seven out of 28 branches will be shut and up to 15% of the workforce will be cut. The company has around 2,150 staff.
The reorganisation is likely to cost €25m.