JP Morgan boosts Glasgow IT opportunities

Investment bank JP Morgan is creating 200 new IT jobs at its European software development centre in Glasgow.

The new jobs at JP Morgan's European Technology Centre, which opened in 1999, will take the total headcount up to 900.

The Glasgow centre develops complex financial software and technology systems to support JP Morgan's financial services operations around the world.

The investment bank will get a £3m regional selective assistance grant from the Scottish Executive if the jobs are created within two years and maintained for another three.

Michael Ashworth, chief information officer at JP Morgan, said in a statement: "Glasgow has proved to be a highly successful and key strategic location for JPMorgan globally and the European technology centre provides vital software development facilities to the bank as a whole."

Nicol Stephen, deputy first minister for Scotland, said the creation of the new jobs emphasises the availability of high-quality IT professionals in Scotland.

"Scotland's universities should take great credit from this decision as JP Morgan sources most of these high-value positions from Scottish graduates. This is a further example of Scotland's potential to attract high-quality international jobs in the financial services sector," he said in a statement.