Scotland boost from office shake-up
400 jobs for Edinburgh in M&GPrudential overhaul
More jobs for Edinburgh under shake-up
Edinburgh and Stirling are to benefit from an overhaul in M&GPrudential’s UK office portfolio with 400 jobs heading to the capital.
The move will triple the number of Edinburgh staff to 650 with new office space being leased next to the company’s offices in the Gyle business park.
The retirement and savings business is reducing its seven UK locations to three by 2025, with Stirling and an enlarged Edinburgh operation at the heart of its strategy. A recently opened head office in London complements the Scottish offices.
An M&GPrudential spokesman said: “The financial services market continues to change significantly and present many opportunities to support our ambitious growth plans. Where we are located, the services we provide, the way we operate and the benefits that we deliver for our customers are front of mind.
“Our current locations reflect the history of our organisation through merger and acquisition. We’re investing significantly in our business for the future and because of these changes we will be able to operate in a far more integrated, collaborative and digital way.
“Scotland is, and will remain, home to a large number of M&GPrudential colleagues. We will be making significant investments in our existing bases in Stirling and Edinburgh.
“We will be investing millions of pounds in the coming years to create a modern and flexible workplace in Stirling, building on our long association with the town. We will also be expanding our operation in Edinburgh over the next 18 months.
“We are consolidating our existing property portfolio into fewer more modern working locations to maximise operational efficiencies, align ours ambitions, scale our business and ultimately deliver more to our customers”.
M&GP employs 1,300 staff in Scotland of 4,500 overall. Around 400 roles will move to Edinburgh to the company’s ‘Wealth Solutions’ business over the next 18 months from Stirling, Reading, Chelmsford and London. The company will also embark on significant upgrades to its Stirling offices.
The spokesman said: “Scotland is and will remain home to many of our colleagues and the intention is to increase the number we have there.
“Edinburgh is the UK’s largest financial services centre after London and one of the world’s top ten fintech hubs. As the Scottish base of Wealth Solutions, it gives us access to expertise and supports our transformation to a digital first business.
“Locating all Wealth Solutions colleagues in a contemporary environment enables us to do things differently, be truly collaborative and be a real leader with the products and services we provide our customers.
“We are also fully committed to Stirling and, alongside London and Edinburgh, it will be one of 3 centres for our UK operations.
“This gives us geographical access to the best talent and right skills for our business”.