The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
160 jobs Number of planned job creations
Announcement Date
8 January 2007
Employment effect (start)
Foreseen end date
31 December 2008
Description
Investment group Alliance Trust is to create 160 new jobs at its base in Dundee, it has been announced on 8 January 2007. The expansion plan, which also includes proposals for new headquarters in the city centre, came after receiving 1.95 million GBP of Scottish Executive funding. Alliance Trust has been growing its pensions, asset management and investment dealing businesses. Based in Dundee since 1888, the company has been awarded funding under regional selective assistance. It has now become the largest generalist investment company listed on the London Stock Exchange, managing assets of more than 2.7 billion GBP around the world, and employing 280 people. Alliance chief executive Alan Harden said: 'We wanted to keep Dundee, our historic home, at the heart of this expansion because the city has always defined our independent spirit and provided so many of our talented and dedicated staff.' It is hoped that construction of the new headquarters, to be built on the site of the former Burns and Harris printworks, will be finished by the end of 2008 as part of the three-year expansion. Deputy First Minister Nicol Stephen said RSA grants boosted the economy by helping to create high-quality jobs.
Sources
8 January 2007: BBC News
Citation
Eurofound (2007), Alliance Trust, Business expansion in United Kingdom, factsheet number 64734, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64734.
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