New IT company creates 50 jobs in Scotland, may yet deter people from joining banks' technology teams

A little like Ireland, Scotland appears to be carving a name for itself in IT. First there was JPMorgan, then there was Avaloq. Now there's Proact, a "storage integrator and cloud services enabler," which is creating 50 new jobs for, "skilled technology professionals with management, customer service and technical expertise," in Lanarkshire.

Whilst cloud technology is quite popular among the likes of hedge funds, Proact's website doesn't suggest it has a mass of banking clients. Nevertheless, for those aspiring to financial services technology jobs it may prove a handy source of banking technology training. Anecdotally, banks are struggling to hire people for their technology functions and will be more than happy to hire from elsewhere.

"Working in financial services used to be cool." Knight Cap's CTO reportedly said at a technology conference recently.