The Royal Bank of Scotland (RBS) plc hasannounced that it is expanding its significant presence in Manchester, with the opening of a Global Banking & Markets (GBM) operations division in the city centre next month.
RBS has chosen its Hardman Boulevard site in Spinningfields as the location for a new operations centre. It is anticipated that around 100 jobs will be created at the site before the end of the year.
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.”
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. Once open the Manchester site will become part of a global network of GBM facilities, with similar operations in the UK, Singapore, India and North America.
Sir Richard Leese, Leader for Manchester City Council said: “We’re delighted to welcome the RBS Global Banking and Markets division to Manchester. 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.”