Bank of America is to create up to 1,000 jobs in Chester by setting up a global technology and operations centre.

The news comes as the group announces a further 150 jobs losses from its separate MBNA credit card business, also in based in Chester Business Park.

Bank of America says the centre will part of its Global Technology and Operations organisation. Among other things, the facility will support the group’s global banking and markets and wealth management businesses across Europe, the Middle East and Africa.

It is hoped that work to create the new centre will commence in 2012 and, if all goes to plan, it will be fully operational by mid-2013, creating a “significant number of jobs” in the Chester area.

Although Bank of America hasn’t revealed exactly how many jobs will be created it is believed up to 1,000 people may be employed at the centre.

Some of those roles may be filled by people redeployed from other parts of the group’s operations.

Bank of America also announced that 150 jobs are to be lost at MBNA, which is currently up for sale, in addition to the 400 losses announced in October.

It hopes to achieve as many of the reductions as possible through voluntary means although it added that some compulsory redundancies were likely.

The group put MBNA, which currently employs 3,000 people at Chester, up for sale in August.

Bank of America’s Europe card executive, Ian O’Doherty, said: “The proposed reductions we are announcing today, 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.

“The announcement of Bank of America’s intention to create a new technology and operations centre in Chester is very welcome news. It will ensure that we remain a large employer in the region and a key contributor to the local community.”