Barclays to open tech hub in Glasgow

Barclays is set to double its workforce in Scotland by opening a new campus that will house technology teams.

Up to 2,500 people could be accommodated in the campus, at Glasgow’s Buchanan Wharf, which will join similar hubs in India and the US as part of Barclays’ global delivery network for operations and technology services.

“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,” said Barclays chief operating officer Paul Compton.

Scottish Enterprise, which provided a £12m funding grant towards the project, said at least 42% of the new jobs will be high value, with at least 341 for disadvantaged workers or those with a disability. The hub will use the latest technology to improve Barclays’ customer services. 

“This is a project that will be transformational for Glasgow, creating up to 2,500 new jobs in the heart of the city,” said Nicola Sturgeon, Scotland’s first minister.

Sturgeon praised Barclays’ plan to recruit local people. “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.”

The financial sector’s adoption of the latest technologies is critical to Scotland’s future as a financial services sector, according to the Strathclyde Business School. A report published by the university in 2016 revealed that Scotland’s financial services sector could lose 14,000 jobs and £635m in wages if organisations do not speed up their adoption of the latest financial services technology.