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Umbrella company contractors who have specialist finance skills, may be interested to hear that Marks & Spencer will be offering a new banking service, which will see more than 50 branches opening within the next two years.

The launch of M&S Bank will create 500 new UK roles by the end of 2013, which will made available to permanent workers, freelancers and contractors who use umbrella services This includes 400 customer-facing roles in branches across the country and around 100 roles at the company’s Chester based head office.

The banks, which will be run and owned by HSBC, will be opened within existing stores and the Marks & Spencer’s flagship store in Marble Arch, London; will be the first in July of this year. The M&S Banks will also be open at weekends and for longer working hours than traditional high street banks.

Marc Bolland, chief executive at Marks & Spencer, said, "M&S is one of the most trusted brands on the UK high street and we've achieved this by continually listening and responding to the needs of our 21 million customers.

Colin Kersley, Chief Executive of the new M&S Bank, added, “We know loyal M&S customers will be genuinely excited by the prospect of banking with their favourite retailer. With over 25 years financial services experience, M&S Bank is the natural next step for M&S Money and will provide customers with a credible, alternative choice in the banking sector.”

Joe Garner, Head of HSBC in the UK, said, “This is our most significant innovation in retail banking since we launched First Direct over 22 years ago. It is concrete evidence of HSBC increasing innovation, competition and investment in the UK.”

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