Barclays Banks On Taking The Glasgow High Road

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27 July 2018

Barclays has said its new state-of-the-art campus is to be built at Buchanan Wharf in Glasgow and the world class facilities will be supported by cutting-edge technology that will create a new way of working and foster innovation and collaboration.

 Barclays has agreed to purchase the campus development from Drum Property Group and is currently working with them to finalise the design of the new facility as part of the wider Buchanan Wharf development. 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.

Funding grant

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 Compton, Chief Operating Officer at Barclays, said: “The Glasgow campus, alongside others in Whippany, New Jersey, and Pune, India, is part of a global strategy to create world class facilities for our functions, technology and operations teams.”

Paul Lewis, MDof international operations at Scottish Enterprise, said: “This investment has the potential to be transformative for Scotland’s financial services sector and the wider economy. It establishes Glasgow as a key global site for Barclays, providing a platform for growth whilst also securing existing operations in Scotland. It will breathe new life into a part of the city with huge potential and bring significant new jobs, including employment specifically for disadvantaged workers.”

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.

Channel 4 On the move

Manchester, where Channel 4 opened a hub in October 2015, along with Leeds and Birmingham could see the broadcaster moving its larger operation to within a year. Glasgow, Cardiff and Bristol could be chosen to locate another hub. Each city is in negotiations with regards to precise locations and funding assistance.  

 Picture: Buchanan Wharf in Glasgow.

Article written by Brian Shillibeer | Published 27 July 2018

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