Tesco Personal Finance plans another 800 jobs

Scotland's financial sector should be thanking its lucky stars that Tesco Personal Finance decided on Edinburgh for its HQ. The new bank has been building its team all year, while other firms have been cutting back, and has now announced plans for another 800 jobs.

Obviously, this is a significant number of new jobs and will provide a welcome boost to the beleaguered financial sector north of the border, but they're not exactly highly skilled.

The roles will be for TPF's new customer service centre in Glasgow and are therefore likely to be primarily call centre positions. The bank has also recruited 250 people for its Edinburgh base this year, and now employs 500 there.

Scotland's biggest city has been the beneficiary of call centre expansions this year, following esure's plans to create 500 jobs in Glasgow earlier this year.

It helps that the government is putting its hand in its pocket, and the new centre will be built with the aid of a 5m state grant.

Andrew Higginson, chief executive of Tesco Retailing Services, said: "The opening of the new customer service centre will be a significant step towards Tesco Personal Finance offering a full banking service. It is hard to ignore that people's trust in the banking sector is at a very low ebb."

Alistair Darling, the chancellor, is scheduled to visit the TPF's Edinburgh HQ today and said the new base was important because he wants to see "increased competition" in the banking system.