Morgan Stanley to bring 250 new jobs to Glasgow

 

Author - Stef Lach © Evening Times Originally published: 30/11/2011

FINANCIAL giant Morgan Stanley is to bring 250 new jobs to Glasgow, the city council’s development spokeswoman has revealed.

Former Glasgow Lord Provost, Liz Cameron – who is now the council’s executive member for development and regeneration – was speaking last night at a celebration of the 10th anniversary of Glasgow’s International Financial Services District.

Morgan Stanley already employs 1100 people at its two offices in Douglas Street in the IFSD.

It has taken out a lease on two additional floors in the Sentinal Building to add to the four floors it already has there.

The firm also has four floors in the Cerium Building across the street.

The additional floorspace gives Morgan Stanley scope to accommodate an extra 250 employees, Councillor Cameron said at last night’s bash in the Banqueting hall at Glasgow City Chambers.

Ms Cameron said: “I am delighted by this announcement of Morgan Stanley’s expansion in Glasgow. This is another vote of confidence in Glasgow, showing not only the quality of our workforce and office space, but the strength of our financial services sector.”

The 250 jobs would be created as part of the company’s growth plans and will be in finance and technology, professional accountancy and IT.

Glasgow is Morgan Stanley’s second biggest European base, behind London.

Staff in the IFSD work in the company’s business support division, providing support to some of our most important global sales and trading businesses such as cash equities, fixed income, commodities and prime brokerage.

Sue Watts, chief administration officer for Morgan Stanley in Europe, said: “Glasgow continues to be a key hub in Morgan Stanley’s global business support network, and the additional space and planned growth reflect the high quality talent pool and excellent infrastructure available here.”

In its 10 years, Glasgow’s IFSD has attracted major businesses and there are plans in the pipeline for a new leisure quarter.

The £10million Broomielaw Quay project is a joint venture between Glasgow City Council and Capella Developments and once completed is expected to create up to 150 new jobs.

It will feature up to nine restaurant, bar and cafe units along the waterfront to create a continental-style experience.