Virgin Money jobs boost for Capital

THE city's financial sector is to receive a boost of 200 new jobs after Virgin's bank announced it intends to establish a new operations centre in the Capital.

Jayne-Anne Gadhia, chief executive of Virgin Money, said the firm had chosen Edinburgh because "there is nowhere better in the UK to set up a growing bank".

She also signalled the bank would support the city arts, and hinted it could take over the Festival Fireworks Concert.

The institution, which is just 16 years old, is looking for city-centre premises for a new operations office, with staff recruitment expected to begin early next year.

The move comes after major job cuts announced by RBS and Standard Life rocked the Scottish banking sector over the past fortnight.

Reportedly one of the main reasons the bank is to set up shop in the Capital is the influence of Ms Gadhia, who has lived in the city since 2001.

A former senior figure at RBS, she is rumoured to have quit her post after repeatedly clashing with the bank's former boss Sir Fred Goodwin.