Global financial services leader BNY Mellon is to expand its Scottish operations, creating over 60 new jobs, Scotland’s Cabinet Secretary for Finance John Swinney, announced.
BNY Mellon, which provides investment management expertise, investment servicing solutions and other financial services to institutions, corporations and high-net-worth individuals globally is expanding its Blenheim Place offices and creating over 60 jobs, increasing its Scottish workforce to approximately 650 employees.
Operating in 36 countries and serving more than 100 markets, BNY Mellon has had a presence in Scotland for more than 20 years and today operates from three locations in Edinburgh. The company has over approximately USD25.5 trillion dollars in assets under custody and administration and approximately USD1.2 trillion dollars in assets under management services, approximately USD12 trillion dollars in outstanding debt and processes global payments averaging approximately USD1.7 trillion dollars per day.
Scottish Enterprise, Scottish Development International and Skills Development Scotland have worked closely with the company to support its Scottish growth plans. This announcement is the latest in a number of investments and job growth opportunities in Scotland from leading financial services companies. Scotland’s financial services industry makes a substantial contribution to the economy employing approximately 95,000 people and accounting for around eight per cent of the country’s GDP.
"Scotland has established a global reputation for financial services excellence, with the infrastructure and skilled workforce that can deliver success," says Cabinet Secretary for Finance, Employment and Sustainable Growth John Swinney. "BNY Mellon has had a presence in Scotland for more than 20 years. I am delighted the company is reaffirming their commitment to Scotland through expanding their operations and creating over 60 new jobs. The company’s decision to invest further in Edinburgh reflects the quality and skills of the local workforce and Scotland’s position as a world leader in financial services. Scotland remains a competitive and attractive destination for international finance, we continue to attract the biggest names in the industry, as today’s news and the announcement earlier this month confirm.
"The Scottish Government, Scottish Enterprise and Scottish Development International recognise the substantial contribution that the financial services industry makes to our economy. Together we are doing all we can to promote Scotland’s strengths as global centre for financial services and to secure new investment and jobs."
Tim Keaney, chairman of Europe, BNY Mellon, says: "Edinburgh is one of our business’ key centres, and the investment we have made to build upon our existing presence here," said "Both through our ongoing recruitment programme and the refurbishment of our Blenheim Place offices, underlines our continued commitment to the city and to Scotland."