Project set for launch this year
Scottish Stock Exchange gets SE backing for 45 jobs
Tomas Carruthers: ‘decentralising capital’ (pic: Terry Murden)
Scotland’s proposed new stock exchange has received a £750,000 grant from Scottish Enterprise to support recruitment of up to 45 staff.
The jobs, fewer than the 60 initially envisaged, will be in Edinburgh where the exchange will be headquartered, as well as in Glasgow and Aberdeen, which will have representative offices.
Project Heather, the working group behind the project, wants to bring firms to market that are making a positive impact on society or the environment.
Inclusion will be at the heart of the new exchange and will be the thread running through hiring, development, reward and performance management practices.
As hiring plans get under way for the roles, Project Heather is looking for candidates from a diverse pool, with the intention of building a team representing a cross-section of society and providing opportunities for those groups who are under-represented.
CEO and founder Tomás Carruthers said: “In addition to directly employing many highly-skilled people, a successful stock exchange in Scotland will foster greater prosperity and support the decentralisation of capital and wealth away from London and the South East.”
Business Minister Jamie Hepburn said: “Enhancing the Scottish funding landscape by the establishment of a Scottish Stock Exchange would no doubt add value and provide greater choice to Scottish companies seeking to grow and fulfil their ambitions. This would be a welcome addition to Scotland and to the businesses who would wish to use the stock exchange for investment.”
Project Heather is partnering with Euronext, Euro CCP and Euroclear to provide the market infrastructure for the proposed exchange, which, subject to regulatory approval from the UK’s Financial Conduct Authority, is targeting a launch in the second half of this year.
In March it was announced that Anderson Anderson & Brown (AAB), the accountancy and business advisory firm, advised on raising a “significant” sum to underpin those behind Project Heather.