Bank jobs safe on Wearside

Northern Rock is being sold to Sir Richard Branson's Virgin Money.
Northern Rock is being sold to Sir Richard Branson's Virgin Money.
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HUNDREDS of Wearside banking jobs are safe, despite plans to axe posts in the region.

UK Asset Resolution Limited (UKAR), which runs the section of Northern Rock hived off to deal with the bank’s bad debts, has unveiled plans to close its Gosforth site by the middle of 2013.

The firm plans to concentrate its North East operation at its call centre on Sunderland’s Doxford International business park.

“This is part of an ongoing process of internal restructure and optimisation necessary to generate operational cost savings and maximise value to the taxpayer,” said a bank statement.

“Around 700 people are employed in Gosforth.

“The majority of Gosforth staff will be offered the chance to relocate to the nearest UKAR site.”

Chief Executive Richard Banks added: “By the end of 2013 we expect the number of mortgages to have reduced by 25 per cent since UKAR was established. As a consequence, we will need fewer people.

“The loss of some jobs is regrettable but we will work hard with colleagues and the union to relocate people where possible and offer support to those colleagues affected.”