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Alliance Trust to receive GBP1.9 million grant from Scottish Executive

Global investment and financial services firm Alliance Trust has obtained the support of the Scottish Executive with a GBP1.95 million RSA grant for its commitment to expand business in Dundee, alongside its plan to construct a six-storey building in the city to be used as its headquarters.

The investment group plans to create an additional 160 new jobs in the Scottish town of Dundee in its expanding pensions, asset management and investment dealing businesses over the next three years. In addition, Alliance Trust will also build a large headquarters in the center of Dundee.

The grant will enable Alliance Trust to strengthen its commitment to the city, where it has been based since 1988, and will be paid out in installments as the company achieves its projected growth.

Planning permission has already been obtained for the construction of its new headquarters. Building is expected to begin in summer 2007 and scheduled to be completed by the end of 2008.