Virgin Money to expand in city

VIRGIN Money is to expand its office in Edinburgh as a result of the firm's £50 million acquisition of the tiny Yeovil-based private bank Church House Trust last week.

Jayne Anne Gadhia, chief executive of Sir Richard Branson's bank group, said: "We see back office operations in Edinburgh growing. Over time we will have good news for jobs there."

By the end of the year she said Virgin Money would offer the "full range of retail banking products" from current accounts to mortgages, savings and loans.

Gadhia said the group had "very significant growth plans".

Initially the bank will offer its products online but it also plans to open a series of Virgin Money Shops on the high street.