JP Morgan hires 100 in Scotland

JP Morgan is to boost its support staff in Europe by hiring 100 software engineers to its European Technology Centre in Scotland over the next two years.

The Glasgow centre, which JP Morgan set up in 1999, currently employs 600. It provides IT support for the US financial services group's investment banking and asset management divisions.

JP Morgan's employment drive is supported by a 1.5m grant from the Scottish Executive.

Michael Ashworth, chief information officer of JP Morgan, said Glasgow provided the group with a skilled workforce and added it was "a key strategic location for JP Morgan globally".

Jack McConnell, Scotland's first minister, said JP Morgan's expansion plans show "yet again that Scotland is a natural home from home for international financial companies".

Other international firms with operations in Scotland include US financial groups State Street, Citigroup, and the Bank of New York as well as Dutch insurer Aegon.