HUNDREDS of staff at Fortis breathed a sigh of relief yesterday when they found out their jobs were safe after an emergency £9bn rescue.

Senior members worked through the weekend to prepare staff for the news that the firm, which employs 270 people in Guernsey, has been partially taken over by the Belgian, Dutch and Luxembourg governments.

After Guernsey’s closest shave with the global fallout of the credit crunch, commercial director Rick Denton (pictured) said it was business as usual for the island.

‘Staff here have reacted very positively. We view ourselves as one of the most profitable and broadest finance companies in Guernsey and now we have the capital to continue to thrive.’

Fortis’ share price plummeted at the end of last week amid fears it could no longer afford its £19bn takeover of ABN Amro – the largest in banking history.