Barclays has announced plans to build a new campus at Glasgow’s Buchanan Wharf which will provide a state-of-the-art workplace for the bank’s technology, functions and operations teams.

The campus, which will utilise cutting-edge technology and design, will enable the bank to deliver “outstanding services to customers and clients by fostering innovation and collaboration” and is the single biggest inward investment to have ever come to Scotland.

The Glasgow centre will be one of a select number of “key global sites” and will accommodate up to 2,500 additional roles – doubling the current Barclays workforce in Scotland and establishing it as one of Glasgow’s largest commercial employers.

Investing in Glasgow

Barclays agreed upon a deal to purchase the campus development from Drum Property Group Ltd and is in the process of working with the firm to finalise the design of the new facility.

The project, Barclays said, has been made possible through close collaboration with Scottish Enterprise, which announced a funding grant of £12.75 million. Glasgow City Council has also played an “instrumental” role in the process, turning the initial proposal into a viable scheme.

Barclays Chief Operating Officer, Paul Compton, said the project is a “fantastic opportunity” to deepen close ties with local communities and academic institutions and will enable the bank to draw upon some of the finest tech talents Scotland has to offer. Compton noted that the project highlights the bank’s commitment to supporting the UK economy and developing relationships in Scotland.

He said: “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.”

Paul Lewis, Managing Director of international operations at Scottish Enterprise, echoed Compton’s statement, highlighting the transformative impact the project could have on Scotland’s financial services sector.

He 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.

Lewis added: “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.”

Local Focus

The Barclays project will also focus heavily on enabling people from disadvantaged backgrounds and those with disabilities. While the funding grant provided by Scottish Enterprise states that at least 42% of the new jobs created through the project will be “high value”, over 341 will be for “disadvantaged workers of those who have a disability.”

This commitment is an aspect of the project that First Minister Nicola Sturgeon believes could have a positive, empowering impact upon Glasgow.

She said: “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.”