Barclays to create new jobs in Glasgow

The new jobs will be the latest created as part of ongoing expansion of Barclays presence in Glasgow, supported by a grant of up to £6.6 million of Regional Selective Assistance funding from Scottish Enterprise. This grant is conditional on Barclays meeting job-creation milestones over a multi-year period and potentially taking its total number of employees in Scotland to over 2,000.

At Barclays Aurora premises in Glasgow, the First Minister welcomed the bank's ambitious plans for expansion. As part of this project, Barclays is establishing a global Shared Services hub, in Glasgow, to support the activity of its investment banking and wealth management divisions. Barclays will also continue to focus on Glasgow as a centre of growth for many areas of its global wealth management business.

The announcement is another positive boost to Scotland's financial services industry which employs approximately 95,000 people and accounts for around eight per cent of the country's GDP.

First Minister Alex Salmond said:

"Scotland has a long-established reputation as global financial centre with the infrastructure and expertise that can deliver success.

"The biggest names in the industry continue to invest in Scotland despite tough competition from emerging markets and I am delighted that Barclays has chosen to expand its business in Glasgow with an additional 600 staff.

"Barclays is already one of the top employers in Scotland and its plans to increase its presence here reinforces Scotland's status as a global leader in finance.

"This Government recognises the major contribution the financial services industry makes to Scotland's economy. We are determined to continue to support the industry in maintaining its strengths through the Financial Services Advisory Board (FiSAB), which brings together senior figures from the industry, trade unions, government and public sector partners to strengthen Scotland's position as global centre for financial services.

"The Scottish Government, Scottish Development International (SDI) and Scottish Enterprise work hard to promote Scotland as a key location for financial services. These 600 new jobs mark further growth in this significant sector of Scotland's economy."

Ian Axe, Head of Operations, Barclays Capital and Barclays Wealth, said:

"This example of collaboration between the investment banking and wealth management divisions at Barclays is an exciting development for clients, staff and potential employees in Glasgow and across Scotland. We have been clear about our desire to build out our existing infrastructure framework in Glasgow into a market-leading centre of excellence that will enable the two businesses to share talent and best practice with the common goal of continually enhancing our business processes and customer and client service."

Des Byrne, Head of Barclays Stockbrokers, said:

"We are absolutely delighted to have agreed the terms of a grant with Scottish Enterprise. We would like to extend our thanks to them, as well as to the First Minister, the Scottish Government and the SDI, with which we have continued to work very closely. Since opening the Aurora building in Glasgow in 2007, Barclays has been committed to creating a powerful legacy of customer service, job creation and community involvement in Scotland and today's announcement is the latest step on that journey."

Anne McColl, interim chief executive at Scottish Development International, said:

"Scotland's profile in world financial markets continues to grow rapidly and Barclays decision to expand its existing operations in Glasgow is testament to the calibre of those working in the financial services industry in Scotland, and to the work of my SDI colleagues who are continually promoting Scotland as a great place to work and live.

"SDI, working in partnership with Scottish Enterprise, has put together a strong package of support to attract and secure Barclays' additional investment in Glasgow and we will continue to work closely with the company on its ambitious growth plans."