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Barclays
Wealth is a top ten employer in Glasgow, and already employs 1,200 staff in
the city.
Barclays Wealth is undergoing a period of rapid
expansion and the roles will be largely focused on building a solid
infrastructure operation to support the business as it grows.
 Barclays
Wealth, the UK’s leading Wealth Manager, today announces that it is to
create 500 jobs in Glasgow over the next three years. Barclays Wealth is
undergoing a period of rapid expansion and the roles will be largely focused
on building a solid infrastructure operation to support the business as it
grows. Barclays Wealth, which is already based in four sites in Glasgow, has
secured four floors in the city’s prestigious Aurora building to house its
expanding workforce.
Barclays Wealth is a top ten employer in Glasgow, and already employs 1,200
staff in the city and first entered Glasgow with the launch of Barclays
Stockbrokers in 1986. This combined with Glasgow’s growing reputation as an
important European financial services centre, makes the city a natural place
to create an infrastructure hub for the business’s growing operations.
Barclays Wealth has pledged to invest £125m each year globally over the next
three years into people and infrastructure on a pay as you go basis as the
company strives to meet its ambitions as Europe’s premier Wealth Manager.
Frank McGarahan, Chief Operating Officer, Barclays Wealth, said; “Barclays
Wealth has ambitious growth plans and we need to build on our existing
infrastructure capability to meet the demands of our growing client base and
increased global presence. We aim to add 500 roles within the next three
years which we believe will be critical in enabling us to deliver a first
class service to our clients.
“Barclays Wealth has had a strong presence as an employer in Glasgow for
over twenty years and we are delighted to be building on this success and
demonstrating our commitment through our expansion in the City. We are
grateful to the Scottish Executive and SDI for their unstinting support and
look forward to a long and successful relationship with them going forward.
“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 of Barclays Wealth’s operations.”
Deputy First Minister Nicol Stephen said; “I am delighted to welcome
Barclays Wealth’s latest project to Scotland which will help to create 500
new jobs. I am also pleased that the Scottish Executive has helped this
expansion come to Glasgow with a Regional Selective Assistance (RSA) grant
of £4.2m.
“The creation of these new jobs presents hundreds of people with the
opportunity to work in quality jobs and allows Barclays Wealth to take
advantage of the area’s skilled workforce
“Barclays Wealth’s decision to bring these jobs to Glasgow further
strengthens Scotland’s position as one of Europe’s top financial centres.
Since the turn of the decade, the financial services sector in Scotland has
grown by 36 per cent, significantly faster than the UK financial services
industry as a whole. I wish Barclays every success for the future.”
Martin Togneri, Chief Executive of Scottish Development International, which
worked with the company on its plans, said; “This is a great success in what
has already been another remarkable year for Glasgow’s International
Financial Services District. Over 29,000 people now work in the financial
services sector in Glasgow and to date £750 million of investment has been
secured for the IFSD with more than 90% of this coming from the private
sector. Scotland’s profile in world financial markets has been greatly
enhanced this year thanks to increasing investments by blue chip companies
such as Barclays.”
For further information, please contact:
Caroline Wells, Public Relations, Barclays Wealth
Tel: 020 7114 7435
Mobile: 07766 362715
Email:
caroline.wells@barclays.com
Stephen Sharp, Senior Media Relations Executive, Scottish Enterprise
Tel: 0141 228 7364
Mobile: 07786 126 629
Email:
stephen.sharp@scotent.co.uk
Notes:
About Barclays Wealth
Barclays Wealth was recently named as the UK’s leading Wealth Manager for
the second year running by PAM (Private Asset Managers) with £84bn assets
under management (H1 2006). It is made up of a number of businesses that
provide customers with a comprehensive range of solutions covering private
banking, investment, life and pensions to meet their financial planning
needs, in the UK and overseas.
Barclays Wealth is part of the Barclays Group, one of the largest financial
services groups in the world by market capitalisation. Barclays is a major
global financial services provider engaged in retail and commercial banking,
credit cards, investment banking, wealth management and investment
management services. Operating in over 60 countries and employing over
113,000 people, we move, lend, invest and protect money for over 25 million
customers and clients worldwide.
About Regional
Selective Assistance
Regional Selective Assistance (RSA) is the main national scheme of financial
assistance to industry. It provides discretionary grants for investment
projects that will create or safeguard jobs in Assisted Areas – areas
designated for regional aid under European community law. The scheme is
administered by the RSA Scotland unit of the Scottish Executive. Payment of
RSA is made in instalments, typically over several years, provided that job
and project expenditure targets are met. The amount quoted above represent
the maximum grant potentially payable if the project is satisfactorily
completed. Job numbers are based on the firms’ forecast at the time a grant
is offered, and are subject to change depending on future economic
conditions and other factors affecting the business concerned. For further
information on the scheme, go to
www.rsascotland.gov.uk.
About Scottish
Development International
Scottish Development International works to attract inward investment and
knowledge to Scotland in order to help the economy grow. SDI also works to
help Scottish companies do more business overseas and to promote Scotland as
a good place to live, work and do business. It is jointly operated by the
Scottish Executive and Scottish Enterprise. Its work is guided by the global
connections theme of the Scottish Executive's Smart Successful Scotland
strategy for economic development in Scotland.
www.scottishdevelopmentinternational.com
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