Major Investment by UK Bank Welcomed by Leading Assembly Member

12.00.00am UTC (GMT +0000) Wed 18th Jun 2008

HSBC's investment into Newport welcomed by local Assembly Member Michael German

News that HSBC Bank plc, a leading UK global banking corporation, has chosen Newport as a centre for call centre investment worth £14 million over the next two years, was welcomed as representing "upbeat confidence in South East Wales."

Michael German, leader of the Welsh Liberal Democrats, said: "This represents good news after recent job losses in the industry. It is a clear sign of confidence in Newport and South Wales for a major international bank to make a major investment here.

He added, "Over four hundred and fifty jobs is very welcome and a sign that Newport is increasingly a good choice for investment against the competition in the UK and tough competition for these jobs from places overseas such as India. Newport was chosen because of the quality of existing staff. This is huge fillip to them as they have shown Newport and South Wales to the best in the industry and beat off global competition."