Barclays a Very Welcome Addition to Glasgow

The City of Glasgow recently received a huge boost with the announcement that Barclays Bank will create up to 2,500 new jobs at a tech hub campus in Buchanan Wharf, in Glasgow City Centre on the bank of the River Clyde. This will double the number of Barclays jobs in Scotland, with existing operations set to transfer to the new campus from 2021.

This is a major boost to Glasgow’s, and indeed Scotland’s, strong Financial Services sector, and will also support the further development of emerging sectors such as FinTech and Enabling Technology. ekosgen has recently been advising on the business support needs of the burgeoning FinTech sector in Scotland; a sector which has clusters of activity in Edinburgh and Glasgow, and with strengths in software, payments, cybersecurity, platforms and open banking.

However, the creation of posts is not the only positive to the region’s labour pool. Public grants have been agreed with Barclays on the condition that over 40% of the new jobs are ‘high value jobs’, meaning that they will attract higher skilled workers and higher salaries. Also, at least 341 of the new jobs will be made available to disadvantaged or disabled workers. For a city like Glasgow, which still suffers high unemployment and inactivity levels, and whose population suffers from some of the poorest health in the UK, this is a significant step towards inclusive growth.

The announcement has been described as ‘transformational’ by Scotland’s First Minister, and we certainly hope it materialises into a move that attracts further investment in the city.

For any more information on our work in the FinTech sector, please contact Richard Weaver on richard.weaver@ekosgen.co.uk or 0845 120 6244.