Midlands jobs boost

Capital One credit card issuer expands in Nottingham

About 1,200 jobs are being created in Nottingham with a £60m expansion of credit card issuer Capital One's European headquarters.

The government is contributing a £6.6m grant, subject to European Commission approval, and the project will see Capital One's Nottingham workforce double to more than 2,500.

The jobs will be include call centre staff, customer relations, marketing and analysis, training and development, human resources, information technology and senior management.

The new facility will adjoin Capital One's existing European operations centre at Trent House, Nottingham, which was opened by Deputy Prime Minister John Prescott two years ago.

Multinational

US-based Capital One is one of the world's largest credit card issuers with more than 25 million customers.

Its president, Nigel Morris, said: "The decision to expand our UK business clearly illustrates that we are now one of the leading financial service providers in the UK and mainland Europe.

"Since establishing Capital One in the UK, our strategy has been to provide customers across the credit spectrum with innovative, value-for-money products, backed by a great service in order to build a customer franchise.

"Maintaining this successful formula will ensure Capital One's continued worldwide growth."

Trade Secretary Stephen Byers said: "Capital One's £60m investment in its European headquarters is tremendous news for Nottingham and the East Midlands as a whole.

"With the help of over £6m in Regional Selective Assistance, the workforce will now be doubled to 2,500 after less than two years in operation."