Barclays announced the creation of 600 new jobs, benefiting Scotland’s financial services industry. This comes on the heels of RBS cutting 3,500 jobs to dispose of more than half of its administrative centres across the UK. Barclays decided to plant these new positions in Scotland due to Scottish Enterprise, a business quango, extending a taxpayer-funded grant of more than 6.5 million pounds to locate there.
Alex Salmond, the First Minister, released information regarding the new jobs in Glasgow and proclaimed this is further evidence of continued growth of its financial sector. He commented on the stature Scotland holds within the industry, saying: “Scotland has a long-established reputation as a global financial centre with the infrastructure and expertise that can deliver success.
“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.”
It is thought that about half of the jobs will be created immediately, with the balance put into place over the next four years.
Part of the plans for expansion into the Glasgow area, include creating a supportive department for its global investment banking and wealth management divisions.
Anne McColl, interim chief executive at Scottish Development International, part of Scottish Enterprises, commented on Scotland’s strength within the financial services industry, saying: “Barclays’ decision to expand its existing operations in Glasgow is testament to the calibre of those working in the financial services industry in Scotland.”
A primary goal of SDI is encouraging foreign investments in Scotland. Evidence of this is the package recently put together to attract Barclays to Glasgow.
The financial services sector employees almost 100,000 people in Scotland.