Virgin Money to create 200 jobs in Edinburgh
08 September 2010 | 8660 views | 0
Virgin Money is scouting for a new operations centre in Edinburgh in a move that will provide a welcome jobs boost to hard-pressed financial sector workers in the Scottish capital.
The financial arm of Richard Branson's Virgin group is planning to emulate UK newcomer Metro bank and set up a fully-fledged banking operation in the UK to take on the country's tarnished high street institutions.
The company has recruited a host of experienced financiers to head the assault, which is being directed by Virgin Money CEO Jayne-Anne Gadhia, a former RBS mortgage head and Edinburgh resident.
The group is now looking for city-centre premises for a new operations office, with staff recruitment expected to begin early next year - ahead of the spring launch date set for Virgin Bank. Up to 200 jobs are expected to be created.
The news provides a welcome boost for the Scottish economy which has recently been rocked by a further round of job cuts at distressed RBS and Standard Life.