Partner Article

Jobs boost at regional building society

One of the North East’s oldest financial institutions is expanding operations, creating 500 jobs in the region over the next five years. Newcastle Building Society (NBS) has acquired new premises at Cobalt Business Park, North Tyneside, additional to its principal office in central Newcastle.

The majority of jobs will be created within the Society’s Strategic Solutions business, which generates income by providing technology, processing capability and administrative support services to third party clients, such as banks and other building societies. The project was supported by a £1.3m investment from One NorthEast.

Colin Seccombe, Chief Executive of Newcastle Building Society said: “We are tremendously grateful to One NorthEast for its significant support, which is a massive vote of confidence in the Society and our commitment to creating employment in the region. “We have recently enjoyed significant growth across the whole business, reflected in our extremely positive half year financial results. In particular our Strategic Solutions operation is continuing to grow rapidly. Cobalt Business Park offers us the best solution in terms of location and facilities and also meets requirements to replace our current Wideopen site as a business continuity centre.”

One NorthEast Chairman, Margaret Fay, said: “NBS is a well respected indigenous business that has bucked the trend to off-shore any of its activity. Rather than look to cut costs by outsourcing work they have chosen a more positive and proactive response in broadening capacity to maximise development opportunities in the UK and Europe.

“This project will create a state of the art document processing facility with an associated Contact Centre on North Tyneside that will generate 500 new jobs for the North East, which is fantastic for the region and I would commend NBS for its continued commitment to the North East.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .