Barclays to create 600 jobs amid banking redundancy wave

Barclays has announced it will create a maximum of 600 jobs in Scotland.

The news will be a welcome respite for the financial services sector after 3,500 job cuts at RBS and 600 at Standard Life.

New roles at Barclays will be created using a possible £6.6m grant from Scottish Enterprise. The funding is dependant on Barclays meeting a number of conditions over the next few years, and could lead to the bank employing over 2,000 people in Scotland.

In Glasgow, Barclays plans to establish a global shared services hub to support its investment banking and wealth management divisions.

"Scotland has a long-established reputation as a global financial centre with the infrastructure and expertise that can deliver success," says Alex Salmond, Scottish First Minister.

"Barclays is already one of the top employers in Scotland and plans to increase its presence here reinforce Scotland's status as a global leader in finance.

'"The Scottish Government, Scottish Development International and Scottish Enterprise work hard to promote Scotland as a key location for financial services. These 600 new jobs mark further growth in this significant sector of Scotland's economy."

Ian Axe, head of operations for Barclays Capital and Barclays Wealth, says: "This example of collaboration between the investment banking and wealth management divisions at Barclays is an exciting development for clients, staff and potential employees in Glasgow and across Scotland.

"We have been clear about our desire to build out our existing infrastructure framework in Glasgow into a market-leading centre of excellence that will enable the two businesses to share talent and best practice with the common goal of continually enhancing our business processes and customer and client service."