Barclays breaks ground on new campus at Buchanan Wharf in Scotland
November 05, 2018 – Barclays, a transatlantic consumer and wholesale bank, has begun work on a new, modern campus at Buchanan Wharf in Glasgow, UK, for the bank’s functions, technology and operations teams.
The campus will accommodate up to 2,500 additional people, doubling the bank’s current workforce in Scotland and making the bank one of the biggest commercial employers in Glasgow.
In July 2018, Barclays announced plans to develop the new campus at Buchanan Wharf, a major mixed-use scheme being developed by the Drum Property Group.
The new campus, which will deploy latest technology and design, will help the bank deliver outstanding services to customers and clients by fostering innovation and collaboration.
The bank expects the new campus to play a key role in the execution of its long-term strategic priorities and will be one of several key global sites.
Barclays group CEO Jes Staley said: “Glasgow will be home to one of our global strategic campuses alongside Whippany, New Jersey, and Pune, India.
“This site will play a critical role in developing and deploying the technology which customers and clients rely on and which is the foundation for our future success.
“Glasgow city has all the attributes to be a leading UK and European technology centre and we look forward to being part of it.”
Barclays has purchased the campus development from Drum Property Group and worked with the property group to finalise the design of the new facility as part of the wider Buchanan Wharf development.
The project is the outcome of close collaboration with Scottish Enterprise, with which Barclays has reached an agreement for a funding grant of £12.75m, and Glasgow City Council, which helped turn the initial proposal into a viable scheme.
The funding grant states that at least 42% of the new jobs will be high value, and at least 341 will be for disadvantaged workers or those who have a disability.
Scotland site lead Scott Stewart said: “It’s another big day for the new campus and for Barclays in Scotland. The effort and amount of planning to get us to this stage has been extraordinary and I’d like thank Glasgow City Council, Scottish Enterprise and Drum Property Group Ltd for all of their support in helping us get here ahead of schedule.”