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Blow to City as Barclays plan to move 250 jobs

posted 15 Jul 2010, 17:19 by David Rintoul   [ updated 15 Jul 2010, 17:41 ]

Edinburgh was dealt a fresh blow to its status as a world centre for financial services yesterday when Barclays announced it is moving 250 jobs out of the capital.

Barclays plans to move the Standard Life cash savings and mortgages operation from its site in Exchange Crescent to other parts of the UK following its acquisition of Standard Life Bank earlier this year.

The move is the latest knock to Edinburgh's international status, which has been on the slide since Royal Bank of Scotland and HBOS were bailed out by the UK government in 2008.

It was revealed this month that RBS and Lloyds Banking Group, which took over HBOS, have shed 7,000 jobs north of the Border in the past 12 months, including RBS's insurance operations in Edinburgh and Glasgow.