Barclays plans 2,500 new jobs in Glasgow with government supportAll Articles
Barclays announces plans to develop a new campus at Buchanan Wharf, Glasgow, which will provide a state-of-the-art workplace for the bank’s functions, technology and operations teams.
With cutting-edge technology and design, this world class working environment will help the bank deliver outstanding services to customers and clients by fostering innovation and collaboration. The campus will play a pivotal role in the execution of Barclays’ long-term strategic priorities and will be one of a small number of key global sites.
Buchanan Wharf is a major mixed-use scheme currently being developed by Drum Property Group on the south side of the River Clyde that lies between The Tradeston Bridge – known colloquially as the Squiggly Bridge – and the King George IV Bridge.
Barclays has agreed to buy 47,000 square feet of Grade A office space with an option to extend their campus by an additional 210,000 sq ft, in a second phase of development at the site. It is expected that, once completed, the campus will be able to accommodate up to 2,500 additional roles, doubling Barclays’ current workforce in Scotland and making the bank one of Glasgow’s biggest commercial employers.
The project has been made possible by the continued close collaboration with Scottish Enterprise, with which Barclays has reached an agreement for a funding grant of £12.75m, and Glasgow City Council, which has been instrumental in turning the initial proposal into a viable scheme.
First Minister of Scotland, Nicola Sturgeon said, “This is a project that will be transformational for Glasgow, creating up to 2,500 new jobs in the heart of the city.
“The new campus will strengthen Glasgow’s financial services sector and shows Scotland continues to be a highly attractive location for inward investment.
“I am particularly pleased that as part of this investment, Barclays has committed to employing local people who often face barriers into work, including those with disabilities and young people.”
Paul Lewis, Managing Director of international operations at Scottish Enterprise, said, “This investment has the potential to be transformative for Scotland’s financial services sector and the wider economy, and we’re delighted to have helped secure the project for Scotland and for the people of the West of Scotland."
The funding grant provided by Scottish Enterprise states that at least 42 per cent of the new jobs will be high value, and at least 341 will be for disadvantaged workers or those who have a disability.
Barclays is long-established in Glasgow and has a strong wealth management, corporate, business banking and retail banking presence. In addition, the city is home to Smart Investor, the bank’s online retail trading platform, and a Shared Services centre that facilitates a number of operational and functional capabilities across the Group. The centre was opened in 2010, creating 600 new jobs.
Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
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