RETAILING giant Marks and Spencer is set to move a key part of its business from London to Manchester, creating 150 jobs in the city.

Regional development chiefs who are providing financial help have welcomed the re-location of the M and S human resources and finance administration operation as a vote of confidence in the city and the northwest.

The Marks and Spencer move is part of a major review of administration and will see the creation of a new company, Marks and Spencer Shared Services.

The rejuvenated company, headed by Luc Vandevelde, is reluctant to give further details at the moment, but the change is expected to be linked to it moving its headquarters across London in 2004.

Michael Roberts, head of inward investment at the Northwest Development Agency, said the agency had provided "a little bit" of financial help, under the regional selective assistance scheme, which is intended to boost businesses in less affluent areas, and provides funding up to a £2m limit.

Location
M&S would not comment on its investment or on the location of the operation, but it is understood it is likely to be Salford Quays.

Mr Roberts said: "This new venture is a vote of confidence in the city and shows once again that the north west is an excellent place to operate business."

Source: manchesteronline.co.uk