Barclays Wealth is to create another 500 jobs in Glasgow. The unit will invest "north of £30 million" over the next three years in finance, ...

Barclays Wealth is to create another 500 jobs in Glasgow. The unit will invest "north of £30 million" over the next three years in finance, human resources and IT, said Frank McGarahan, chief operating officer at Barclays Wealth. The city's relatively low property and labour costs and skilled workforce were instrumental in the choice after the unit considered other locations in the UK and Ireland and the rest of the world, according to Mr McGarahan. Barclays has also received a regional selective assistance grant of £4.2 million for the project from the Scottish Executive. The project is part of a consolidation of infrastructure jobs across Barclays Wealth and the jobs created over the next three years would be a mixture of growth and roles transferred from other parts of the UK. Barclays Wealth already has around 1,200 staff at four offices in Glasgow.