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Barclays has announced plans to house its technology, functions and operations teams at a new hub in Glasgow, creating up to 2,500 jobs.
The Buchanan Wharf development on the banks of the Clyde will "play a pivotal role" in "long-term strategic priorities", the bank said.
Barclays has agreed to purchase the campus development from Drum Property Group and is currently working with them to finalise the design of the new facility as part of the wider Buchanan Wharf development.
It is expected that, once completed, the move will double Barclays’ current workforce in Scotland and make the bank one of Glasgow’s largest commercial employers. However, although the number of jobs could reach 2,500, a portion of those will be moved from London and other locations.
Barclays has reached an agreement for a funding grant of £12.75m from Scottish Enterprise for the plans. The funding grant provided by Scottish Enterprise states that at least 42 per cent of the new jobs will be “high value”, and at least 341 will be for disadvantaged workers or those who have a disability.
Paul Compton, chief operating officer at Barclays, said: "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.
"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."
First minister of Scotland, Nicola Sturgeon, said the project could be “transformational” for Glasgow.
She added: “The new campus will strengthen Glasgow’s financial services sector and shows Scotland continues to be a highly attractive location for inward investment.
“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.”
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