Virgin Money to create 200 jobs in Edinburgh

Virgin Money to create 200 jobs in Edinburgh

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.

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