Two Austrian banks, Raiffeisen Zentralbank Österreich (RZB) and Centro Internationale Handelsbank (Centrobank), are the latest firms to consider job losses as they combine their equities businesses into a new company.

Gerhard Vogt, general manager of Centrobank, will be the chief executive officer of the new bank, to be called Raiffeisen-Centrobank. While the bank will hire in 100 new staff, there may also be job losses in the future, according to a spokesman for RZB.