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Loan claim: Virgin Money to open new Edinburgh HQ

Virgin Money has announced it will open a new operations centre in Edinburgh next year.

The move will create an initial 200 jobs, with the firm planning to offer more positions as it expands into the UK banking sector.

Last year, the company acquired regional bank Church House Trust in a signal of its intent to compete with its more established rivals.

Scott Mowbray, a spokesman for Virgin Money, told BBC Scotland's news website: "Clearly in Edinburgh there is a fantastic pool of talent in banking and financial services and it makes sense to tap into that.

"As we grow to become a fully operational bank, Edinburgh will be the engine of growth for the bank."

Since its formation in 1995, Virgin Money has been based in Norwich as a result of a joint venture between the Virgin Group and Norwich Union.

The firm already has an office in Edinburgh, although it currently only houses 60 staff in the Scottish capital.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800055916-ADNFCR

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