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TPF To Shift Insurance Operations To Glasgow

A new customer service centre is scheduled to open in 2010 at Broadway One in central Glasgow, part-funded by a £5 million Scottish Government grant

Tesco Personal Finance (TPF) has planned to shift its insurance operations to Glasgow and is expected to announce its plans to create up to 800 jobs in the city – reported Insurance Journal.

As per the reports, a new customer service centre is scheduled to open in 2010 at Broadway One in central Glasgow, part-funded by a £5 million Scottish Government grant. The supermarket, which is currently pursuing ambitions in the retail banking sector, has already created new TPF jobs in Edinburgh.

The group has proposed to open bank branches in 30 of its stores by the end of this year, having become sole owner of TPF (previously a 50/50 joint venture with Royal Bank of Scotland) in 2008. TPF already offers credit cards plus savings and insurance products, and initially the new banking arm will focus on these areas of the market.

However, the retailer has plans to launch a current account in late 2010 and possibly expand into mortgages, as quoted in the journal.