Santander UK to build £150 million tech hub in Milton Keynes, England

Reuters

Published Sep 14, 2018 11:53

Santander UK to build £150 million tech hub in Milton Keynes, England

LONDON (Reuters) - Santander UK said on Friday it would build a new technology hub in the English town of Milton Keynes, representing an investment of 150 million pounds ($196.82 million).

The proposed new site is expected to house over 5,000 staff, and replace the bank's existing offices in the area. A planning application will be submitted for the development in 2019, Santander UK said, and subject to approval the hub is expected to open in 2022.

Nathan Bostock, Chief Executive of Santander UK, which is owned by Spain's Banco Santander (MC:SAN), said the announcement reflected the lender's long-term commitment to the area.