This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/scotland/glasgow_and_west/8210651.stm
The article has changed 5 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Tesco to create 800 finance jobs | Tesco to create 800 finance jobs |
| (29 minutes later) | |
| Tesco has announced plans to create more than 800 customer service centre jobs in Scotland to support its finance operation. | |
| The supermarket giant said the centre would open in central Glasgow in the first half of 2009. | The supermarket giant said the centre would open in central Glasgow in the first half of 2009. |
| Tesco wants to offer a full banking service, with its Edinburgh-based Tesco Personal Finance (TPF) already having six million customers. | Tesco wants to offer a full banking service, with its Edinburgh-based Tesco Personal Finance (TPF) already having six million customers. |
| It hopes to open TPF branches in Tesco stores. | It hopes to open TPF branches in Tesco stores. |
| Six are being trialled at the moment, including one at the Silverburn Shopping Centre near Glasgow. | Six are being trialled at the moment, including one at the Silverburn Shopping Centre near Glasgow. |
| Tesco recently bought out former partner Royal Bank of Scotland's 50% stake in TPF, while there has been speculation that Tesco may also bid for Northern Rock when the government sells the lender. | Tesco recently bought out former partner Royal Bank of Scotland's 50% stake in TPF, while there has been speculation that Tesco may also bid for Northern Rock when the government sells the lender. |
| This is a significant boost for Glasgow and the wider Scottish financial sector Alex SalmondFirst minister of Scotland | This is a significant boost for Glasgow and the wider Scottish financial sector Alex SalmondFirst minister of Scotland |
| TPF, which currently employs 500 people in Edinburgh, has received a £5m grant from the Scottish Government to help create the service centre. | |
| The company's chief executive Benny Higgins told BBC Radio Scotland: "We feel that in order to deliver high-quality service, we need high-quality people, and the decision to build a substantial presence in Scotland, and in particular in Glasgow, is a reflection that we think there is a very strong reservoir of talent." | |
| Mr Higgins said the £5m Scottish Government grant had been a "very important part" of the decision to pick Glasgow ahead of other parts of the UK. | |
| But he dismissed fears that the company would not have a long-term commitment to the city. | |
| "We have taken a 20-year lease on this building - I think that speaks for itself," he said. | |
| 'Increased competition' | |
| The jobs announcement was made ahead of a visit to TPF's Edinburgh base by Chancellor Alistair Darling. | |
| Mr Darling told BBC Radio 4's Today programme that Tesco's announcement was a strong vote of confidence in Scotland's financial services industry. | Mr Darling told BBC Radio 4's Today programme that Tesco's announcement was a strong vote of confidence in Scotland's financial services industry. |
| He added: "I want to see increased competition in the [banking] system and that's why Tesco's announcement today is important. | He added: "I want to see increased competition in the [banking] system and that's why Tesco's announcement today is important. |
| "We do need more competition in the system. The last couple of years has seen a significant reduction in the number of people, both from abroad and British-based banks, who are lending into the market. | "We do need more competition in the system. The last couple of years has seen a significant reduction in the number of people, both from abroad and British-based banks, who are lending into the market. |
| "We need more competition and that's something that we intend to encourage." | "We need more competition and that's something that we intend to encourage." |
| Scottish First Minister Alex Salmond added: "This is a significant boost for Glasgow and the wider Scottish financial sector. | Scottish First Minister Alex Salmond added: "This is a significant boost for Glasgow and the wider Scottish financial sector. |
| "Today's announcement reinforces our reputation as a leading centre for financial services and highlights again the competitiveness of our skilled workforce." | "Today's announcement reinforces our reputation as a leading centre for financial services and highlights again the competitiveness of our skilled workforce." |