The Redditch-based Sigma Financial Group has opened an office in Priory Queensway, in the city.
About 200 staff will be recruited by the end of this year with a further 500 expected by 2017, the firm has said.
"Roles will be spread across middle and senior management, contact centre staff and specialist commercial and finance jobs," said CEO Tim Freeman.
Sigma Financial Group is a business outsource firm. It employs more than 300 staff at its Prospect Hill base in Redditch.
A finance company has announced plans to create more than 700 jobs in Birmingham before the end of next year.