Barclay set to bring 2,500 new jobs to Glasgow

According to the BBC, the bank will locate its technology, functions and operations team at the planned Buchanan Wharf development on the River Clyde.

Barclays has agreed to purchase the premises from Drum Property Group, which is currently developing the major mixed-use scheme.

Its current operations in Scotland are expected to begin transferring to the new campus from 2021, while Scottish Enterprise is providing a £12.75 million grant towards the project.

The BBC said the offer requires at least 42 per cent of the new jobs to be “high value”, with at least 341 posts made available to disadvantaged workers or those with a disability.

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.

“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.”

Nicola Sturgeon added: “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.”