The Chief Minister has expressed his disappointment over the news that Allied Irish Banks will be winding down its business in the Isle of Man by the end of next year.
AIB announced today that as part of an ongoing strategic review they will cease operations in the Isle of Man and Jersey by December 31st, 2013.
They've been a significant employer in the Island's finance sector, with a workforce of 115 people.
The Chief Minister has offered his condolences to the affected workforce and said the Department of Economic Development will aid them in finding alternative employment.
Mr Bell went onto say this is another stark warning that the Island must drive forward with further economic development and diversification if we are to create fresh job opportunities for the future.
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