Banking giant Santander is set to open a new regional centre in Cambridge, focusing primarily on serving businesses in the region with a £1 million plus turnover.
The announcement, which was made last week, is seen as a further indicator that Cambridge is rapidly establishing itself as a national hub for big business, especially those that operate within high-tech, high value markets.
Microsoft announced plans earlier this year to open a research arm within Cambridge, rather than place it with their existing operation in Reading.
The development will also offer new opportunities for local businesses and individuals in the Cambridge area, especially those who deliver recruitment, business consumables and other essential business services such as cleaning, printing and equipment repair.
Martyn Dawson, Regional Director for Santander Corporate, commented: "I am delighted to announce that we are to open a corporate banking centre in Cambridge. The city has a strong and vibrant business community and our local office will enable us to provide real support to businesses in the region."