The bank, which employees over 40,000 people across the UK, including Northern Ireland, will locate its technology, functions and operations teams to a new state-of-the-art workplace in the Scottish city's Buchanan Wharf, Glasgow.
Last year, the bank partnered with Belfast's Ormeau Baths shared workspace to
launch a business incubator known as Barclays Eagle Lab at Ormeau Baths.
The campus in Glasgow will play a pivotal role in the execution of Barclays’ long-term strategic priorities and will be one of a small number of key global sites.
It is expected that, once completed, the campus will be able to accommodate up to 2,500 roles, doubling Barclays’ current workforce in Scotland and making the bank one of Glasgow’s biggest commercial employers.
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.
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.
“This is a project that will be transformational for Glasgow, creating up to 2,500 new jobs in the heart of the city," said First Minister of Scotland, Nicola Sturgeon. “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.
"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. This is a fantastic opportunity to deepen our close ties with local communities and academic institutions to attract and retain the very best talent. It will be somewhere that our colleagues are incredibly proud to work.”
Paul Lewis, Managing Director of international operations at Scottish Enterprise, said: “This investment has the potential to be transformative for Scotland’s financial services sector and the wider economy, and we’re delighted to have helped secure the project for Scotland and for the people of the West of Scotland.
“This investment 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.”
