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Picture Expands Newport HQ

Consumer finance company, Picture Financial, is expanding its Newport headquarters. Work has begun on renovating a further 20,000 sq foot of office space. The expansion will mean Picture moves into the top 40 of largest employers in the Newport area and is now the 3rd largest financial services employer in Newport after Lloyds TSB and HSBC.

A further £2million will be invested in the consumer finance company, allowing Picture to increase its workforce to 240 by the end of this year.

Peter Hain MP, Secretary of State for Wales, said: “Picture is growing at an exceptional rate and firmly establishing itself as an important player in the Welsh economy. The financial sector in Wales is a thriving industry and Picture is at the heart of this.

“I’m delighted with the success Picture has achieved and the fact that it’s already expanding after just 18 months of trading, is testament to the hard-work, innovation and commitment that the company has demonstrated. Picture has rightly established itself as one of Wales’ leading financial services businesses.”

Newport’s location, the availability of high quality premises and Picture’s ability to recruit staff with the right skills were key factors in the company’s decision to establish its base in the city.

Mandy Cameron, Human Resources Director, Picture Financial, said “The availability of skilled and experienced staff was a key factor in choosing Wales and specifically Newport as a base for Picture”

Councillor Erryl Heath, cabinet member for development and employment at Newport City Council said:

"The ongoing success of Picture Financial is great news for both the company and the city of Newport. It is great to see them building on their rapid success and this latest expansion is exactly why the city council and its partners worked so hard to attract such an innovative and exciting firm to Newport."

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Photo-caption:

Peter Hain MP, Secretary of State for Wales enlists the help of Neville Allport, Chief Executive of Picture Financial, to smash through the wall into phase two of Picture’s growth plans.

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Content ID: CONT060036