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Jobs windfall for Scotland.

Up to 1,000 new jobs are to be created over the next five years in Britain by one of America's top financial services companies, it was announced yesterday.

Morgan Stanley Dean Witter & Co is to create a new financial services operation centre in Cumbernauld, Lanarkshire, to provide customer service and related support for new financial products in Europe.

The jobs boost follows Wednesday's announcement that rival firm J P Morgan will build a pounds 7.3 million unit in Glasgow, employing 300 software engineers.

Amelia Fawcett, chief administrative officer of Morgan Stanley in Europe, said: "Scotland's wealth of resources was the decisive factor in the selection of Cumbernauld.

"With an important existing presence in Europe, including our European headquarters in London, this new centre underlines our continued commitment to the UK."

The company decided to go to Scotland after considering other locations in Europe.

Scottish Secretary Mr Donald Dewar said after the announcement: "I am delighted that an internationally renowned financial services company such as Morgan Stanley Dean Witter has chosen Scotland as the location for its new customer services support centre."
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Publication:The Birmingham Post (England)
Geographic Code:1USA
Date:Apr 9, 1999
Words:183
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