Jobs boost at new RBS centre
THE Royal Bank of Scotland is to open a new operations centre at Spinningfields in Manchester next month.
The Global Banking & Markets (GBM) operations division will employ around 100 staff by the end of the year and be based at its Hardman Boulevard site in Spinningfields.
The move is a further endorsement of the bank’s Spinningfields base – its largest outside London and Edinburgh – and an endorsement of the strength of the city’s investment market.
The new centre will provide back office support for GBM, the investment banking arm of the RBS Group, covering areas such as equities, foreign exchange and money market transactions.
Thomas Lack, head of GBM Operations, said: “The RBS Group already has a significant presence in Manchester and the city benefits from a large and highly skilled workforce. These were key factors behind our decision to base an operations centre there.”
Sir Richard Leese, leader for Manchester City Council, said: “This is an exciting new addition to the city region’s financial and professional services sector, bringing large scale international investment banking to Manchester for the first time.
“RBS’s continued commitment to Manchester is testament to the city region’s ability to attract and sustain globally significant operations.”
Tim Newns, deputy chief executive at MIDAS said: “MIDAS has been working hard to bring investment banking functions to Manchester for sometime now and we are particularly pleased to have been able to work with RBS on this strategically important project.
“RBS is already a key employer in the city region and this new high value operation is an exciting addition to its significant footprint in Manchester.”
Earlier this month, the bank announced plans to cut 2,000 jobs across its insurance division, encompassing the Direct Line, Green Flag, Churchill and Privelege brands, which employ 1,364 staff across the North West at locations in Manchester, Liverpool, Salford, Heywood and Middlewich.
