This item was published during the term of a previous administration that ended in April 2007
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Financial Sector jobs announcement
23/11/2004
A financial services company, Huntswood Outsourcing, is
to create 355 new jobs at Strathclyde Business Park.
Deputy First Minister and Minister for Enterprise Jim
Wallace today welcomed the news which included a Regional
Selective Assistance grant of £1.5 million.
Mr Wallace praised the work of the Financial Services
Strategy Group (FSSG) which he believes will help Scotland
continue to be a key world player in financial
services.
He said:
"There can be little doubt that the financial services
sector is critical to the overall strength of the Scottish
economy. Today's news shows the industry is in good
health.
"Huntswood's decision to locate here confirms yet again
the reputation Scotland has as a dynamic financial centre
which can compete with the best in the world.
"It is just one of a series of recent successes that
reinforce the message that this country is very much open
for business.
"Huntswood chose to expand here, not overseas. This
shows that, although global competition is tough, Scotland
remains an attractive option. Our skilled workforce and
competitive business environment continues to attract major
investment - as aptly demonstrated by Huntswood's
decision.
"Today's news is further evidence of Scotland's ability
to attract investment. Just last month, Scotland was named
the 'European Region of the Future' by fDi (foreign direct
investment) magazine. This highlighted Scottish strengths
across a range of areas, including investment promotion,
higher education, transport, and support for technology and
innovation.
"Huntswood is an expanding company that is a great
example of the kind of entrepreneurial dynamism that will
help us grow the Scottish economy.
"We are pleased to attract such like-minded firms who
can help develop the professional skills and attitudes that
will stand Scotland's workforce in good stead for the
future. That is why we have supported the project with an
offer of £1.5 million in Regional Selective
Assistance."
Mr Wallace, who chairs today's meeting of the FSSG,
added that it was vital the Executive continued to ensure
the conditions were right for the sector to flourish in the
future.
He said:
"We must continue to move forward and work with the
industry to ensure we meet future challenges.
"This is where the work of the FSSG will prove crucial.
It is almost exactly a year since this group had its first
meeting and I have been consistently impressed with the
dynamism with which it has operated over the last twelve
months.
"The constructive engagement between public and private
sectors fostered by the FSSG is clearly one of its biggest
successes. I look forward to seeing this labour bear fruit
early in the new year when the group reports.
"I am confident the eventual outcome will be a sound,
effective strategy which will ensure we are able to welcome
many more positive announcements similar to that made by
Huntswood today."
FSSG brings together key players from across the private
sector as well as the Executive, Scottish Enterprise and
Scottish Financial Enterprise.
The role of the group is to align the public and private
sectors to develop and to deliver a shared strategy for the
financial services industry in Scotland.
Huntswood Outsourcing, a leading outsourcing provider to
the retail financial services industry based at Reading in
the south of England, specialises in compliance, business
training and development, customer services, business
review and consulting.
Its clients include eight of the 10 largest life and
pensions providers, five of the six major clearing banks,
six of the 10 largest mortgage lenders, and five out of the
top 10 general insurance providers.