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HSBC business push in Scotland

HSBC is to boost its commercial banking management team in Scotland by a third as it looks to increase its market share north of the border.

John Rendall, the bank's chief executive for Scotland, said he was set to take on an extra 10 staff in roles involving relationship management and new business, taking the total to 37.

He added that the value of loans to businesses in Scotland was likely to be around 30% higher than in the previous year as more customers moved from crisis-hit Scottish banks.

The new staff will work from the bank's commercial centres in Glasgow, Edinburgh and Aberdeen.

Rendall said: "The commercial banking arm of HSBC in Scotland has seen very encouraging growth in 2009.

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"The investment in these new roles reflects our commitment to providing accessible and expert advice to our customers, and our desire to sustain and accelerate our growth in Scotland throughout 2010."

He added that the Scottish arm of the bank was looking to reduce its reliance on international companies.

"We are undoubtedly winning more business in Scotland than we were a year ago," said Rendall.

"In the commercial banking world especially, our international reach led us to a higher focus on Scottish businesses which are international in their outlook."

He said that HSBC's market share north of the border stood at around 5% to 10%, with the smallest share coming from the personal account market.

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HSBC, which is Britain's largest bank, last week announced the creation of 70 new jobs at its Edinburgh Park call centre to take the total there to around 600.