The move will be seen as a welcome boost for the economy after a number of Island banks announced job cuts in recent months and Dutch bank ABN Amro last week revealed it was closing its Jersey operation – putting 63 jobs at risk.
Barclays, which already employs around 350 staff in the Island and has its main branch in Library Place and trust and private client services offices in Broad Street, says the reason behind creating the new jobs is to provide ‘enhanced customer service’ and an improved range of services.
The roles, which will be advertised in phases over the next year, range from junior placements to experienced staff to support relationship teams across a number of departments, including fiduciary, fund administration, corporate and family office work. Some of the jobs are already being advertised on the Twitter page @BarclaysJobsUK.
Barclays Jersey managing director Paul Savery said: ‘We recognise that clients like to be served by locally based people. This is a major investment from the Barclays Group perspective. Jersey is an important and valuable jurisdiction for us as a bank and one where we are confident of further growth.’
Mr Savery said as many of the roles as possible would be filled by people already based in the Island. ‘Inevitably there will be some seeding of people with experience and some internal moves from within the existing business.
‘We have operated in Jersey for nearly a hundred years and have a clear growth strategy which enables us to be confident of the years ahead. The announcement of so many new jobs is a clear demonstration of that confidence.
‘We are proud of the role we play in supporting the Island and its economy and clearly recognise that this investment is great news, not only for Barclays, our colleagues and our clients, but also for the Island as a whole.
‘From the finance industry perspective, the numbers working in the sector increased in 2014 and in 2015. We have a very clear, sustainable business model and we are very confident about making this investment.’
The chief executive of industry promoters Jersey Finance, Geoff Cook, said: ‘We’re delighted Barclays has chosen to increase its operational capacity in Jersey.
‘Four hundred additional roles were created in 2014 in the finance sector and firms are increasingly positive about future employment.’
Assistant Chief Minister Philip Ozouf added: ‘It is very reassuring to see an organisation of Barclays’ stature making such a long-term investment in and commitment to the Island.’
