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The finance and risk management company BlackRock has outlined its expansion plans in the Scottish capital of Edinburgh.
Employee numbers are set to double to nearly 500 at the firm’s Edinburgh office space as it targets growth and establishes a major new operating base in the Haymarket area of the city.
The statement of intent was welcomed by the Scottish government’s finance secretary John Swinney, who noted that the financial services industry accounts for almost 8 percent of his country’s GDP and the employment of close to 95,000 people.
“Scotland has a strong reputation for financial services excellence and BlackRock’s plans to double its Edinburgh workforce is testament to the talents and quality of the local workforce,” said Swinney in a statement.
“I am delighted that BlackRock is expanding its operations by creating a global operating centre in the capital and creating up to 250 new posts.”
Anne MacColl, chief executive of Scottish Development International, said: “Scotland’s reputation as a centre for financial services excellence is built on factors such as the skills of our people, a competitive-cost base and a well-developed business infrastructure, and this announcement today by BlackRock is a huge vote of confidence in our capabilities.”
Head of BlackRock’s Edinburgh offices Stewart Carracher said he is looking forward to expanding the company’s operations in the city and is keen to help develop the wider business from its Scottish headquarters
BlackRock has a total of over 9,000 employees in office space worldwide.