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Relocation plan

M&G signs 20-year lease for new Stirling offices

Clare Bousfield: ‘collaboration’

Investment manager M&G has signed a 20-year lease with the Stirling Development Agency (SDA) to occupy new offices to be built at the Kildean Business Park in the city.

The SDA, a 50/50 joint venture between Stirling Council and Cromwell Property Group, is due to begin building this year, and staff from Craigforth are due to move in next year.

M&G employs 1,300 staff in Scotland out of around 6,000 worldwide. As a result of a restructuring the business, announced in 2019, five UK offices have been reduced to three and Stirling has seen staff numbers fall from 1,000 to 700 with some moving to Edinburgh.

The new offices will comply with net zero targets and will be served by a direct cycle route. On-site facilities will include a cycle hire scheme and electric car charging spaces.

Clare Bousfield, chief finance officer at M&G, said the new office enable staff to “better collaborate” as it adopts more flexible and digital-first ways of working.

David Lawrence, SDA Director, said Kildean appealed to a wide range of companies from financial services to life sciences.

Stirling Council Leader, Scott Farmer, described the investment as “fantastic news” for the area.

“Prudential UK, now part of M&G plc, has played a cherished part of the fabric of this city since 1997 and this commitment to a further 20 years will open up even greater employment opportunities for the people of Stirling,” he said.

“With the COVID-19 pandemic creating such uncertainty over business and employment, this decision will come as a massive relief to many local families and we are delighted to see this continued and inclusive economic development secured for the area.”

Formed in 2017 by the merger of leading global fund manager, M&G Investments, and savings and investments giant, Prudential UK, M&G plc manages £339 billion for more than five million retail customers and in excess of 800 institutional clients worldwide. 

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