Bank of America is opening a global technology and operations centre in Chester that is expected to create around 1,000 new technical and professional jobs.

The centre will support the company’s global banking and markets, and wealth management businesses across Europe, the Middle East and Africa.

Although Bank of America did not confirm exact figures, a spokesperson for the company said that over the next 18 months, the number of new technology and operations staff would be “in and around 1,000”.

However, the company has also announced plans to cut a further 150 jobs at its MBNA credit card business. Four hundred jobs have already been cut at the Chester-based division, which is currently up for sale.

 “The proposed reductions, while difficult, are vital in the context of the environment in which we are operating and as we prepare our European consumer credit card business for the best possible outcome,” said Ian O’Doherty, CEO of Europe Card Services at Bank of America.