Bank lines up 2500 city jobs
Buchanan Wharf: Barclays become first investor at one of Scotland’s biggest-ever construction projects on riverside site
AN innovative move for Glasgow will see 2500 jobs brought to the city.
Barclays Bank has announced that it is to develop a new campus at the city’s Buchanan Wharf.
As part of an agreement with Scottish Enterprise, at least 42 per cent of the jobs will be high value and 341 will be for disadvantaged or disabled workers.
The single biggest inward investment to have ever come to Scotland
DISABLED locals are among thousands set to benefit from a jobs boost in Glasgow.
Barclays Bank yesterday announced that it would be developing a new campus at the city’s Buchanan Wharf, creating up to 2500 jobs for the area.
First Minister Nicola Sturgeon and local politicians hailed the move as ‘transformational’ for the city.
The bank agreed to buy the development in Tradeston from Drum Property Group Ltd, marking the biggest single inward investment ever in Scotland.
Once completed, the campus will play a “pivotal role in the execution of Barclays’ long-term strategic priorities” and will be one of a few key global sites.
The hub will be able to accommodate up to 2500 additional roles, doubling Barclays’ current workforce in Scotland and making the bank one of Glasgow’s biggest commercial employers.
As part of an agreement with Scottish Enterprise, which saw them provide £12.75million of grant funding, at least 42 per cent of the jobs will be high value and at least 341 will be for disadvantaged or disabled workers.
As previously reported by the Evening Times, Buchanan Wharf is set to be a new modern quarter in the city with housing, offices, bars, restaurants, a creche and substantial public realm improvements.
The campus will cover 1,250,000 sq ft of land facing the River Clyde.
Work on the site could begin as soon as October following Glasgow City Council’s decision to sell the final pieces of land the developers.
Ms Sturgeon visited the site on Monday, following the announcement.
She said: “This is a project that will be transformational for Glasgow, creating up to 2500 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 development was a “flagship project” for the bank.
He added: “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.
“This new campus at Buchanan Wharf is a flagship project for the bank, which builds on Barclays’ long history in Scotland and clearly demonstrates our commitment to supporting the UK economy.”
Depute Leader Councillor David McDonald described it as a historic day for Scotland. He said: “I was delighted to join the First Minister and senior Executives from Barclays to make the official announcement, as we welcomed the single biggest inward investment to have ever come to Scotland.
“This development on the banks of the Clyde at Tradeston will see a huge amount of Grade A office space, new homes and new jobs coming to the city.
“This project, which is truly on an unprecedented scale and will transform not only Tradeston and this part of the waterfront, but our wider economy as opportunities become available for the people and business of the city and those wishing to invest here.
“Hundreds of the jobs will be made available to local people who face barriers to employment.
“Barclays have had a presence in Glasgow for hundreds of years but we are delighted
that they have chosen the city as one of their new global hub locations, it’s a real vote of confidence in the city.”
Richard Muir, deputy chief executive of Glasgow Chamber of Commerce commented: “This is absolutely fantastic news for the city, for a wide range of reasons.
“It reinforces Glasgow’s reputation as a global financial-tech centre and is testament to the quality of our skills-base.
“We’ve been driving the Developing Young Workforce project and Barclay’s plans will help large numbers of people who may sometimes struggle to enter the workplace – which should be warmly welcomed.
“The announcement will grab the attention of other large financial services businesses around the world and should also be of interest to anyone i nvolved i n the region’s vibrant Fintech industry.
“The location of the hub is of strategic importance too, helping to regenerate a key area adjacent to the River Clyde, while also sending strong signals about the strength of the city’s commercial property sector.
“It is a great example of the public and private sectors working together to create jobs and drive development and we are delighted that Barclays, who are members of the Glasgow Chamber, are making this commitment to the city.”