Business expansion
United Kingdom
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

500 jobs
Number of planned job creations
Job creation
Announcement Date
7 September 2007
Employment effect (start)
7 September 2007
Foreseen end date
7 September 2012


Newcastle Building Society, a firm engaged in financial services activities, has announced that it is to create 500 new jobs across the UK. The jobs will be in various positions across the company, including finance, customer support, administration and management. The society currently employs more than 1,000 staff across its 37 branches and main offices.

The firm will also move part of its operations to a new base in North Tyneside. Chief executive Colin Seccombe said the firm was looking to move into its new base at the Cobalt Business Park in North Tyneside at the start of 2008. The majority of jobs, to be created from 2007 to 2012, will be within its Strategic Solutions division, which provides technology and administrative support services to third party clients, such as banks and other building societies.

Mr Seccombe said: 'We have recently enjoyed significant growth across the whole business. Cobalt Business Park offers us the best solution in terms of location and facilities.'

Development agency One NorthEast has invested 1.3 million GBP into the expansion project.


  • 7 September 2007: BBC Website


Eurofound (2007), Newcastle Building Society, Business expansion in United Kingdom, factsheet number 65797, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65797.