Virgin Money Heading for Edinburgh Expansion
Virgin Money has announced plans to open a new operations centre in the Scottish capital Edinburgh, offering customers insurance, unsecured personal loans and the Virgin credit card.
The company’s chief executive Jayne-Anne Gadhia told The Scotsman newspaper’s website that the new centre would create 200 new jobs at first and more as the centre expands. At the moment, Virgin Money’s head office is a small one with just 60 staff.
Ms Gadhia added that recruitment of staff would start next year, saying that Edinburgh is the best place in the UK “to set up a growing bank”.
“It is certainly good news for Edinburgh in terms of jobs. Given the town’s history in financial services, it is great to be able to make the most of that experience,” she went on.
Virgin Money grew out of the smaller bank Virgin Direct, that was established by Sir Richard Branson 15 years ago. With some three million customers across the UK, it offers credit cards, home and car insurance, plus a range of unsecured personal loans at competitive rates.
Under its expansion plans, the company eventually hopes to offer additional financial services. These would include mortgages, savings accounts and a suite of investment services.
Scottish Secretary Michael Moore applauded the move by Virgin, insisting that it was a “real sign of encouragement for Scotland’s economy”.
“We have become used to hearing bad employment news as a result of the recession, and the announcement of these jobs and the investment which goes with it is a real sign of encouragement for Scotland’s economy.”
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