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Last Updated: Monday, 8 January 2007, 10:41 GMT
Finance firm in major expansion
Alliance Trust building plan
It is hoped the headquarters will be finished in 2008
Investment group Alliance Trust is to create 160 new jobs at its base in Dundee, it has been announced.

The expansion plan, which also includes proposals for new headquarters in the city centre, came after receiving 1.95m of Scottish Executive funding.

Alliance Trust has been growing its pensions, asset management and investment dealing businesses.

Based in Dundee since 1888, the company has been awarded funding under regional selective assistance.

Alliance Trust has its roots in a venture by a group of Dundee jute producers which began lending money to immigrant farmers in America in 1873.

It has now become the largest generalist investment company listed on the London Stock Exchange, managing assets of more than 2.7bn around the world, and employing 280 people.

'High-quality jobs'

Alliance chief executive Alan Harden said: "We wanted to keep Dundee, our historic home, at the heart of this expansion because the city has always defined our independent spirit and provided so many of our talented and dedicated staff."

It is hoped that construction of the new headquarters, to be built on the site of the former Burns and Harris printworks, will be finished by the end of 2008 as part of the three-year expansion.

Deputy First Minister Nicol Stephen said RSA grants boosted the economy by helping to create high-quality jobs.

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