Scotland's back office banking boost

Scotland's banking sector has been bolstered by new back office jobs already this year and more are likely this year. There's also the prospect of new players creating jobs north of the border.

Back office functions might not be the most glamorous facet of the financial services industry, but new roles continue to gravitate north of the border.

Virgin Money is set to expand its Edinburgh office following its acquisition of private bank Church House Trust last week.

Jayne Anne Gadhia, chief executive of the group says it has "very significant growth plans", which could benefit Scotland.

"We see back office operations in Edinburgh growing. Over time we will have some good news for jobs in Edinburgh," she said.

Elsewhere, HSBC, which currently employs 500 in an Edinburgh call centre, intends to recruit 70 extra staff.

This year, new retail banks are expected to enter the UK market, including Metro Bank (a start-up from US entrepreneur Vernon Hill), and Walton & Co.

Although these are unlikely to benefit Scotland directly, another player, Tesco Personal Finance, is providing ongoing job opportunities north of the border - latterly in its Glasgow customer service centre.

Slightly more tenuously, as potential suitors circle the sell-off of RBS and Lloyds branches north of the border, some are pinning their hopes that Scottish financier Ben Thomson can provide a boost to the country's banking sector.

Thomson is campaigning for the establishment of an independent Scottish bank, which is likely to both safeguard and create roles north of the border.

"There is a critical point at the moment, where we can influence what happens to the big banks. There is a chance at the moment to create Scottish banks headquartered in Scotland," he says.