International Financial Services District
Encyclopedia
The International Financial Services District (IFSD) is a ten year project within the city
of Glasgow
in Scotland
to create a highly attractive inward investment location for leading international financial services companies and a re-location option for existing Glasgow-based companies, seeking to expand their operations.
, otherwise known as the Broomielaw. The result was a small number of isolated modern offices, standing adjacent to derelict land and vacant dilapidated buildings.
Planning led by Scottish Enterprise
and Glasgow City Council, aimed to create a new, dynamic focus for the area’s regeneration, through the establishment of the IFSD.This was an important development of Glasgow’s financial services sector, which, with 28,000 employees, was recognised as vital to the city’s economic fortunes. In order to develop a fully serviced financial services district and exploit its long term potential, significant investment was required to create the right environment.
, JP Morgan, esure
, BNP Paribas
Barclays, Clydesdale Bank
, Aon Corporation, Direct Line
, First Data
, Ace Insurance and Tesco Bank were among the organisations taking up space in the District.
A constant stream of new buildings has appeared in the IFSD since 2001, with more in the pipeline. The Aurora building in the IFSD for example has won several UK wide awards as large scale specualtive office building.
stations. The Glasgow Subway the world's third oldest underground metro railway in the world. The two stations that cover the IFSD are:
City
A city is a relatively large and permanent settlement. Although there is no agreement on how a city is distinguished from a town within general English language meanings, many cities have a particular administrative, legal, or historical status based on local law.For example, in the U.S...
of Glasgow
Glasgow
Glasgow is the largest city in Scotland and third most populous in the United Kingdom. The city is situated on the River Clyde in the country's west central lowlands...
in Scotland
Scotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
to create a highly attractive inward investment location for leading international financial services companies and a re-location option for existing Glasgow-based companies, seeking to expand their operations.
History
Prior to the launch of the IFSD in 2001, the long-term decline of the old Port of Glasgow and its associated wharves and warehousing had resulted in a neglected infrastructure in Glasgow’s city centre area fronting the River ClydeRiver Clyde
The River Clyde is a major river in Scotland. It is the ninth longest river in the United Kingdom, and the third longest in Scotland. Flowing through the major city of Glasgow, it was an important river for shipbuilding and trade in the British Empire....
, otherwise known as the Broomielaw. The result was a small number of isolated modern offices, standing adjacent to derelict land and vacant dilapidated buildings.
Planning led by Scottish Enterprise
Scottish Enterprise
Scottish Enterprise is a sponsored non-departmental public body of the Scottish Government which encourages economic development, enterprise, innovation and investment in business...
and Glasgow City Council, aimed to create a new, dynamic focus for the area’s regeneration, through the establishment of the IFSD.This was an important development of Glasgow’s financial services sector, which, with 28,000 employees, was recognised as vital to the city’s economic fortunes. In order to develop a fully serviced financial services district and exploit its long term potential, significant investment was required to create the right environment.
Economic impact
Since the launch of the IFSD, over 15,000 jobs have moved in to the area. This includes several of the world’s leading financial companies who now have a presence in Glasgow - Morgan StanleyMorgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
, JP Morgan, esure
Esure
Esure is an internet and telephone based insurance company based in Reigate, Surrey, England. It also has offices in Manchester and Glasgow...
, BNP Paribas
BNP Paribas
BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
Barclays, Clydesdale Bank
Clydesdale Bank
Clydesdale Bank is a commercial bank in Scotland, a subsidiary of the National Australia Bank Group. In Scotland, Clydesdale Bank is the third largest clearing bank, although it also retains a branch network in London and the north of England...
, Aon Corporation, Direct Line
Direct Line
Direct Line is part of the RBS Insurance division of the Royal Bank of Scotland Group that specialises in selling insurance and other financial services over the phone and internet....
, First Data
First Data
First Data Corporation is an American payment processing company headquartered in Atlanta, Georgia. First Data is a provider of electronic commerce and payment solutions...
, Ace Insurance and Tesco Bank were among the organisations taking up space in the District.
A constant stream of new buildings has appeared in the IFSD since 2001, with more in the pipeline. The Aurora building in the IFSD for example has won several UK wide awards as large scale specualtive office building.
Completed
| Number | Name | Residents |
|---|---|---|
| 1 | 6 Atlantic Quay | Credit Suisse Credit Suisse The Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:... |
| 2 | Sentinel | Aon Aon Aon or AON may refer to:* Aon , son of Poseidon in Greek mythology* Aon , a genus of moths* Aon , a Latin trigraph* Aon, a composition by Jazz Pianist Harold Mabern, ca... |
| 3 | Auora | Barclays Wealth Barclays Wealth Barclays Wealth is a UK wealth manager providing international and private banking, advisory, fiduciary services, investment management and, through Barclays Stockbrokers, brokerage.... , BNP Paribas BNP Paribas BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger... |
| 4 | Alhambra House | JP Morgan |
| 5 | 141 Bothwell Street | HSBC HSBC HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine... , Various Residents |
| 6 | Clydesdale Bank Exchange | Various residents |
| 7 | Atlantic Quay | Direct Line Direct Line Direct Line is part of the RBS Insurance division of the Royal Bank of Scotland Group that specialises in selling insurance and other financial services over the phone and internet.... |
| 8 | Equinox | esure Esure Esure is an internet and telephone based insurance company based in Reigate, Surrey, England. It also has offices in Manchester and Glasgow... |
| 9 | 200 Broomielaw | ACE Insurance |
| 10 | Cerium | Morgan Stanley Morgan Stanley Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000.... |
| 11 | One Waterloo Street | Scottish and Southern Energy |
| 12 | 107 West Regent Street | SWIP |
| 13 | Centenary House | NFU Mutual NFU Mutual The National Farmers Union Mutual Insurance Society Limited, trading as NFU Mutual, is a UK registered mutual insurance composite. It underwrites more than £1 billion in annual premium in life and general insurance lines for rural communities within the UK. NFU Mutual is based in... |
| 14 | 120 Bothwell Street | Various residents |
| 15 | 58 Robertson Street | Various residents |
| 16 | 38 Cadogan Street | Various residents |
| 17 | 2 West Regent Street | Various residents |
| 18 | 133 Finnieston Street | Various residents |
| 19 | Broadway One | Various residents |
| 20 | 123 St Vincent Street | Various residents |
| 21 | Cuprum | Various residents |
| 22 | Moda | Various residents |
| 23 | Pacific House | Various residents |
| 24 | 200 West Regent Street | Various residents |
| 25 | 103 Waterloo Street | Various residents |
Under construction
| Number | Name | Area | Completion Date | Status |
|---|---|---|---|---|
| 1 | The Copenhagen Building | 65,000 sq ft | Q4, 2010 | Under Construction |
National Rail
The IFSD is connected by five National Rail stations, with routes that reach regionally and nationally.- Anderston StationAnderston railway stationAnderston railway station serves Glasgow's Financial district of Anderston and, across the M8 motorway, the housing schemes of Anderston West. It is a manned station with an island platform and most of it is underground.- History :...
- Argyle Street StationArgyle Street railway stationArgyle Street railway station is a busy station in central Glasgow, Scotland, on the Argyle Line, which connects the North Clyde lines at Partick with Rutherglen in the south-east of the city. The station is located below the thoroughfare whose name it bears. It has a narrow and often crowded...
- Glasgow Central Station
- Glasgow Queen Street StationGlasgow Queen Street railway stationGlasgow Queen Street is a railway station in Glasgow, Scotland, the smaller of the city's two main line railway termini and the third-busiest station in Scotland. It is between George Street to the south and Cathedral Street Bridge to the north, at the northern end of Queen Street adjacent to...
- Exhibition Centre StationExhibition Centre railway stationExhibition Centre station - previously called Finnieston [1979-1986] and earlier Stobcross [1894-1959] - is in Glasgow on the Argyle Line. It serves the Scottish Exhibition and Conference Centre, which is accessible by adjoining footbridge from an island platform...
Subway Rail
The IFSD is well connected with two Glasgow SubwayGlasgow Subway
The Glasgow Subway is an underground metro line in Glasgow, Scotland. Opened on 14 December 1896, it is the third-oldest underground metro system in the world after the London Underground and the Budapest Metro. Formerly a cable railway, the Subway was later electrified, but its twin circular lines...
stations. The Glasgow Subway the world's third oldest underground metro railway in the world. The two stations that cover the IFSD are:
- Buchanan Street SubwayBuchanan Street subway stationBuchanan Street subway station is a station on the Glasgow Subway in Scotland. It serves Buchanan Street, which is popular with shoppers. Close to Buchanan Bus Station and providing interchange with Glasgow Queen Street railway station via a travelator, it is the busiest station on the Subway, with...
- St Enoch SubwaySt Enoch subway stationSt Enoch subway station is the first station on the north of the River Clyde on the Glasgow Subway. It is located in Glasgow city centre, Scotland...