Tesco to create 200 finance jobs

Tesco expects to create more than 200 new jobs in Edinburgh

Tesco is to create more than 200 new financial jobs in Edinburgh, the supermarket giant has announced.

Tesco Personal Finance is also moving 250 staff to a new headquarters at the Interpoint building in the city's Haymarket area.

Workers will relocate from the existing premises at Forthstone, South Gyle, in the second quarter of 2009.

Tesco, which plans to create the new jobs over the next year, said Edinburgh was the "ideal" location.

Benny Higgins, chief executive of Tesco Personal Finance, said: "Tesco has made an important step by committing to expanding its financial services business from Scotland.

"Edinburgh is the ideal place from which to move what is already a successful business into the next stage of its development.

"We have continued to attract some of the best talent from across the industry, both from within Scotland and from those looking to move here for the right opportunity. There is a real enthusiasm among our staff for being based in Edinburgh."

Edinburgh, particularly, is heavily dependent on the finance sector and this is a real shot in the arm Margaret Smith Lib Dem MSP for Edinburgh West

Owen Kelly, chief executive of Scottish Financial Enterprise, said: "This is an exciting announcement, and a great reminder that Scotland remains an important global financial centre, with the people and skills to attract new business.

"Tesco Personal Finance's decision to create its headquarters in Edinburgh, along with hundreds of new jobs, is a real boost for the city."

Scottish Finance Secretary John Swinney said it showed that Scotland continued to enjoy a "global reputation" for excellence in banking services.

"Despite a global economic downturn and severe challenges facing parts of the financial services sector, there continue to be opportunities for growth," he said.

"The Scottish Government is determined, through our economic recovery programme, to ensure Scotland is well placed to take advantage of those opportunities, to support the industry as a whole and the wider Scottish economy."

Lib Dem MSP for Edinburgh West, Margaret Smith, said she hoped it would be the first of many positive announcements in the sector.

"Edinburgh, particularly, is heavily dependent on the finance sector and this is a real shot in the arm," she added.

Scottish Secretary Jim Murphy said it was good news for the capital and Scotland.

"Companies like Tesco Personal Finance set up and expand in places like Edinburgh because we have the people and financial expertise that is hard to match anywhere else," he said.

"This news is a timely reminder to some that Scotland remains a leader in the world of finance."