Birmingham's fast growing financial services businesses visited by the Economic Secretary
City Minister Andrea Leadsom visits the offices of Deutsche Bank, TSB and Al Rayan in Birmingham to see first-hand the city鈥檚 successful banking sector.
Leadsom hailed the growth of Birmingham鈥檚 financial services industry as she visited Deutsche Bank鈥檚 new premises at Five Brindleyplace and saw first-hand the scale of the bank鈥檚 investment there.
Opened in 2014, the premises represent Deutsche Bank鈥檚 strategy to locate some of its investment banking and asset management activity, in addition to technology, infrastructure and support services outside of the traditional London hub.
As part of her tour the City Minister also visited the Longbridge branch of challenger bank TSB, where she met the local branch manager to discuss TSB鈥檚 local banking model and new initiatives which ensure the bank鈥檚 staff are focussed on customer satisfaction rather than sales targets. This follows on from the City Minister鈥檚 recent meeting with TSB鈥檚 CEO, Paul Pester, where she welcomed TSB鈥檚 鈥榩artnership style鈥� of employment, through which all staff are encouraged and incentivised towards great customer service.
The City Minister also visited Al Rayan Bank鈥檚 HQ offices in Birmingham to welcome the completions of the first Home Purchase Plans, which are sharia compliant alternatives to mortgages that are included in the government鈥檚 Help to Buy: mortgage guarantee scheme. This is part of our strategy to broaden Britain鈥檚 range of expertise in financial services.
Economic Secretary to the Treasury Andrea Leadsom said:
A key part of our long term economic plan is to support a competitive financial services sector both in London and throughout Britain.
That is why it is great to see first-hand how Britain鈥檚 banking sector is thriving outside of London, including Deutsche Bank鈥檚 recent expansion in Birmingham, which is creating jobs and supporting the local economy.
I鈥檝e also met with TSB branch staff to see how this challenger bank is supporting customers in their local area. And I鈥檓 delighted to announce that the first Home Purchase Plans under the Help to Buy: mortgage guarantee scheme have been completed in Birmingham by Al Rayan Bank.