Barclays Capital will create graduate jobs in banking and finance as part of its new 'shared services hub' in Scotland with Barclays Wealth.
Back office functions of Barclays Capital are currently performed in London, New York and Singapore, but these are to be transfer across to Glasgow, while Barclays Wealth already employees staff in the city.
Around 300 banking and finance jobs will be created in securities operations and reference data, as well as in operations control including credit derivatives, commodities and structured products, equities, fixed income and loans and treasury.The shared services hub will allow the two businesses to "share talent and best practice and ultimately enhance our customer and client service", according to Barclays.
Barclays currently employees 1,700 people in Scotland, while JPMorgan, Morgan Stanley and BNP Paribas use Glasgow for operational functions. The city has benefited from 'near-shoring' of back office activities, where companies can perform operational funds for less without moving time zone.
The move comes after Royal Bank of Scotland said it was creating 100 jobs in a new global banking & markets operations division in Manchester.
