Paymentshield is making up to 17 staff redundant in its Southport office when the company opens a corporate office in Edinburgh in January.
The company’s board members will be moving to Scotland as part of the changes, including chief executive Stuart Pender, sales and marketing director Chris Traynor, head of Strategy JP Martins and a new insurance director yet to be appointed.
The relocation is taking place as a result of Towergate’s purchase of Paymentshield in November and the sales, marketing and products team will also be moving to Edinburgh.
Paymentshield says 17 staff will be affected and they have been offered relocation to Edinburgh or redeployment within the Southport offices in new roles.
It is not clear how many of the 17 will be staying with the company but Paymentshield expects around 40 staff to be working in the Edinburgh office by the end of 2007.
The company employs 291 people at its Southport office and this will remain its headquarters.
Paymentshield head of marketing Fiona Kitchin says: “Edinburgh is a key part of our growth expansion because it is a recognised financial services centre.
“Our growth plans will be through aggressive organic growth and acquisitions.
“This is a really positive move for the business showing its commitment to its staff in Southport, opening a new office in Edinburgh and continuing to expand and grow in the intermediary market.”