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Barclays Bank Plans To Expand Scottish Business

Barclays Bank is planning to expand its Scottish business and has set a target to double the size of its business in the country by 2012, reported The Scotsman.

According to the report, Barclays Wealth and Barclays Corporate, the bank’s two divisions in Scotland, plan to recruit 10 to 15 new employess over the period of next 12 months.

In Scotland, Barclays already employs 1,700 people for back office functions and about 200 for banking operations.

Over the past 12 months, Barclays Wealth reported a growth of 30% in Scottish assets under management and it expects to register a 50% rise in its business this year.

Mark Little, managing director of Barclays Wealth in Scotland, said: "It is unique for the wealth management and corporate banking business to sit together in the same structure as the investment banking arm at Barclays; however it was a logical extension to the growth of both our businesses. We are at the Rubicon in terms of the development of our business here. We have been given a huge commitment from the top to grow in Scotland.

"The wealth division had been inundated with applications for jobs but the talent pool for wealth in Scotland is reasonably shallow. There are very few world class private bankers operating in Scotland so finding people is difficult," qouted The Scotsman.