Tesco To Create 200 Finance Jobs In Edinburgh

Tue, 03 Mar 2009
 
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Tesco has announced plans to create more than 200 financial jobs in Edinburgh as it expands its banking operation.

The retail giant said it will also relocate around 250 Tesco Personal Finance employees from its current premises on the outskirts of the city to a new headquarters in the capital’s Haymarket area.

Workers will be moved in the second quarter of this year and will be joined by an extra 200 people recruited by Tesco over the next 12 months.

The move comes after the supermarket giant acquired the Royal Bank of Scotland’s 50 per cent stake in the finance business for £950m last year.

Tesco Personal Finance chief executive Benny Higgins commented: "Tesco has made an important step by committing to expanding its financial services business from Scotland."

"Edinburgh is the idea place from which to move what is already a successful business into the next stage of its development. There is a real enthusiasm among our staff for being based in Edinburgh."

Owen Kelly, chief executive of Scottish Financial Enterprise said the announcement is a "great reminder that Scotland remains an important global financial centre, with the people and skills to attract new business".

Scottish Finance Secretary John Swinney said the move showed that Scotland continues to boast a "global reputation" for excellence in banking services .

Tesco has also revealed that it has seen a surge in the amount of British consumers choosing its savings accounts during the last six months.

According to figures from Tesco Personal Finance, around 500,000 accounts have been opened since the start of September, with more deposits made during December 2008 than in the whole of 2007.

The company said it has benefited from many consumers losing faith in Britain’s banks due to the current financial turmoil.

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