Tesco Bank to create 1,000 jobs in Newcastle

By Ganesh Nagarajan

Finance.Centre.1
Tesco Bank

Tesco Bank today said it will create 1,000 new jobs in Newcastle by setting up a customer service centre . The company will start recruitment early next year and by the end of 2010 it would have hired 500 persons.

Tesco Bank Chairman Andrew Higginson said, “This new customer service centre will help us provide our banking and insurance customers with the same great service they have come to expect in our stores.”

Tesco Bank is a supermarket bank selling products in insurance, credit cards, personal loans and personal savings product. It was launched in 1997 as a joint venture between Tesco and Royal Bank of Scotland. In 2008, Tesco acquired the entire stake of RBS for £950 million.

The customer service centre would be based at Quorum Business Park and would manage customer sales and service for Tesco Bank’s home and motor insurance customers. The centre is being set up as part of Tesco Bank’s general insurance with Fortis UK, which was announced in June.

Tesco Bank CEO Benny Higgins said, “The city is a great fit for our business and as it develops we will be investing even more in the region over the coming years.”

This year, Tesco Bank had created 200 jobs at its Edinburgh headquarters and would recruit further 800 jobs at a its new customer service centre in Glasgow.

The centre at Newcastle is being supported by a grant of £ 2 million from the regional development agency for North East England.

Commenting on the grant, Business Secretary Peter Mandelson said, “I am proud of the government support that has helped make it happen. The jobs created by this investment will be invaluable to the North East, and to the wider UK economy.”