‘Nowhere better to set up a bank’


Scotland’s financial sector is not only open for business – it is expanding, as more companies set up operations here


WITH blue chip companies like Barclays, Morgan Stanley, BNP Paribas and State Street heading up a long list of financial sector heavyweights growing their businesses in Scotland, the country’s service offering is healthier than ever. Barclays is among the


biggest job providers to expand in Glasgow, with the announcement that it will create up to 600 jobs in the city.


The jobs, supported


by a grant from Scottish Enterprise, Scotland’s economic development agency, will include 300 posts in a new global services hub supporting the existing work of Barclays Wealth and Barclays Capital, and brings Barclays Scottish workforce to more than 2,000 people. Vertex Group, a global


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provider of customer management outsourcing, also has long-term ambitions to expand its business in Scotland. It has confirmed plans to create a centre of excellence in Glasgow to handle outsourced financial services contracts, supported by £1.7 million in Regional Selective Assistance from the Scottish Government. The project will create 368


jobs in Glasgow, and recruitment will start before the end of


this year. Commenting on the decision, Scotland’s First Minister Alex Salmond said: “The creation of 368 new quality finance jobs is great news for Glasgow and a testament to Scotland’s reputation for financial services excellence. “Vertex has two well-


established sites in the Highlands and the company’s decision to move into Glasgow’s thriving international financial services district is very welcome.”


Tesco Bank has signed a five-


year deal with Vertex to support its planned entry into the mortgage market next year.


Benny Higgins, Chief Executive


of Tesco Bank, said: “We have been very impressed with the quality of applicants we have seen for our Broadway One office in Glasgow, and firmly believe that this is also the right location for customer sales and service staff for our mortgage business.” In Edinburgh, Virgin Money


is creating 200 new Scottish jobs with the opening of an operations centre. The company’s Chief Executive, Jayne-Anne Gadhia, said Edinburgh was chosen because: “There is nowhere better in the UK to set up a growing bank.”


We have been very impressed with the quality of applicants we have seen for our Broadway One office in Glasgow


BENNY HIGGINS, CHIEF EXECUTIVE, TESCO BANK www.talentscotland.com/financialservices


WORK


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