Barclays creates 600 new positions in Scotland

7 September 2010

Barclays bank has announced it is to create 600 new jobs as part of expansion plans for its investment and wealth management units.

According to the financial services provider, it is looking to set up a Shared Services centre in Glasgow as part of its future growth strategy.

Barclays is to receive a grant of £6.6 million from Scottish Enterprise to help fund the expansion.

The money will be available on the condition that it meets a number of job creation targets.

Under the terms, the financial institution could increase its workforce in the country to 2,000.

Ian Axe, head of Operations at 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.

Alex Salmond, Scotland’s first minister, welcomed the news stating that the plan emphasises the importance of Scotland to the financial services industry.

“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,” he explained.

The announcement follows news that the Royal Bank of Scotland will be cutting 3,500 jobs to its support and back office units.

By Jim Ottewill

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