Morgan Stanley is to create 600 new jobs in Glasgow. The new jobs are in addition to the 770 staff the company already employs in the city. 

Morgan Stanley is to create 600 new jobs in Glasgow. The new jobs are in addition to the 770 staff the company already employs in the city.

First Minister Alex Salmond welcomed the decision, saying that it demonstrated the growing potential of the Scottish economy.

An RSA grant of £6 million will support the company's plans to grow its Finance, Operations and Technology support functions already based in Glasgow. The First Minister said:

"Morgan Stanley's commitment and investment in Glasgow demonstrates exactly what the Scottish economy can achieve.

"It shows that Scotland has a highly skilled workforce and that we are capable of attracting investment from multinational companies across the world."

"Morgan Stanley's decision is excellent news not just for Glasgow, but for the Scottish economy as a whole.

"My focus is on creating a business environment which gives Scotland a clear competitive edge. We are determined to move Scotland into the fast lane of economic growth and announcements such as today's show what can be achieved. These jobs not only represent the success of the existing Morgan Stanley workforce but show that high quality employment based on a skilled and motivated workforce is the way forward for Scotland.

"This is an important day for financial services in Scotland."

The new jobs are a result of Morgan Stanley expanding its Institutional Securities and Global Wealth Management (GWM) support services in Glasgow. Among the new high quality positions on offer are those for managers and analysts in the areas of finance, operations and IT.

Commenting on the announcement, David Nicol, Chief Administrative Officer of Morgan Stanley in Europe, said:

"Glasgow is one of the leading financial centres in the UK, with an impressive pool of talent and a dynamic economy. We are delighted to be announcing another significant expansion of our presence there, further underlining our strong commitment to Scotland."

Martin Togneri, Chief Executive of Scottish Development International, said:

"This is a great success in what has been another remarkable year for Glasgow's International Financial Services District and the financial services industry in Scotland as a whole.

Scotlands profile in world financial markets is growing rapidly and Morgan Stanleys decision, fully supported by its US parent, to expand its existing operations in Glasgow is testament to the calibre of employees to be found here and further enhances Scotlands reputation in the IT sector."

Courtesy of Scottish Government . 

Further information:

> Morgan Stanley .