Esure, the Halifax's web-based motor insurance venture, is to create 400 new jobs over the next three years in Scotland. The company, which is headed by Direct Line founder Peter Wood, will initially recruit 140 sales advisers in Glasgow, who will start work when the centre opens in July.

Esure has received more than £150m in investment from the Halifax, which already employs 378 people in its offices in Surrey and Cheshire. Eventually half its staff will be based in Glasgow.

Wood said: “We expect to become a leading insurance company and the leading provider of internet insurance over time.

“Glasgow has great people, great premises and great facilities and I know that we will establish a very successful office in the city.”

Halifax, Britain's largest mortgage lender, is currently in the middle of a merger with the Bank of Scotland.