Prime Highlights-
- Skipton Business Finance appoints Stuart Mace as senior relationship manager, adding 22 years of invoice finance and ABL experience.
- Mace will manage a client portfolio and lead underwriting across the South.
Key Facts-
- Mace joins from Aldermore Bank.
- Kim Hughes, head of ABL at SBF, said the hire strengthens the team as it improves funding solutions for UK businesses.
Background-
American coffee giant Starbucks will set up a global capability centre (GCC) in Chennai and create about 800 technology jobs, the Tamil Nadu government said.
Starbucks signed an agreement with the state government to open the centre in the southern Indian city. The move gives Chennai’s technology sector another well-known international name.
Starbucks already runs roughly 500 cafes across India through its joint venture with Tata Consumer Products. The new centre adds a technology base to its Indian business.
The deal follows a similar pact by US pharmacy chain Walgreens, which recently signed an agreement with the Tamil Nadu government. Walgreens plans to set up its own GCC in the state capital.
Chennai already hosts technology centres run by global firms such as Citi, Barclays and American Express. Starbucks and Walgreens now join that list of companies drawn to the city.
A GCC is an in-house hub that a multinational sets up abroad to support its parent company. These centres have grown well beyond low-cost back-office support. Global business groups now use them to back their headquarters with higher-value work, including finance, software development, and research and development.
The two agreements in quick succession show how strongly global companies view Tamil Nadu as a base for technology work.
The 800 roles will add to the state’s growing pool of technology jobs and give local professionals more openings with a global employer.