Barclays creates 500 jobs in Glasgow

Barclays creates 500 jobs in Glasgow

The wealth management arm of UK banking group Barclays is creating a further 500 back office jobs at its operations in Glasgow over the next three years.

Barclays Wealth, which already employs 1200 staff in the city, is reportedly investing around £30 million in its Glasgow operations over the next three years.

The bank says the new roles "will be largely focused on building a solid infrastructure operation to support the business as it grows".

The investment is being supported by regional economic development agency The Scottish Executive which has provided the UK bank with a £4.2 million assistance grant.

Frank McGarahan, COO, Barclays Wealth, says: "Glasgow is extremely accessible, with direct links to many of the financial services centres within which Barclays Wealth operates and that combined with its high quality, highly-educated work force and the fact that we already have a successful, well-established business here, make Glasgow an obvious choice for the expansion."

Barclays Wealth says it is investing £125 million each year globally over the next three years into people and infrastructure on a pay as you go basis to build its operations.

News of the Glasgow jobs follows reports last week that US electronic payments processor First Data is opening a new customer contact centre in the Scottish city that will create more than 430 jobs over the next five years.

Furthermore, earlier this year US investment bank Morgan Stanley said it wass creating 300 new jobs at its operations in the city.

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