MORE than 300 jobs are to be created over the next five years by a global wealth management firm with the help of £3.1 million of public money.
The Glasgow jobs at Genpact, which made a $1 billion profit last year, will be in digital solutions, risk management, insurance claims, business process transformation, and customer service.
The investment is supported by a £3.1 million Regional Selective Assistance grant from Scottish Enterprise.
It comes two years after Genpact bought the US OpenWealth investment management software business from Citibank - taking over a "centre of excellence" in Glasgow with around 140 staff.
At the time Genpact said that the market for an online financial management package for for handling trade investments had grown more than 20 percent in the previous decade.
Genpact says it now has around 165 employees in Glasgow, who specialise in wealth management servicing and digital platforms for financial services companies.
Mohit Thukral, senior vice president and business leader, banking, financial services and insurance, Genpact, said: "Expanding our presence in Scotland with this strong government partnership advances our strategy of strengthening both our onshore delivery and digital solutions capabilities.
"The Glasgow metro area has provided an exceptional talent base and favourable economic climate, especially for our financial services business. Our planned expansion will further leverage these benefits as we drive more digital-led transformation business impact for our clients."
The wider group which boasts 75,000 employees in 25 countries has seen gross profits grow from $901.4 million in 2014 to £1 billion in 2016.
Paul Lewis, managing director of international operations at Scottish Enterprise, said: "We are pleased to be supporting Genpact's investment in Scotland and delighted the company has chosen Glasgow for its prestigious European expansion project.
"The company joins the growing number of investors who are choosing Scotland for ambitious expansion projects and we look forward to working closely with Genpact as it establishes this new facility."
The company recently reached an agreement to acquire an Australian arm of the US finance technology company Fiserv Inc which serves three of the four major retail banks Down Under.
First Minister Nicola Sturgeon welcomed the announcement during a visit to Genpact's Glasgow office saying: "Scotland continues to be recognised as a prime business location for global companies looking for a foothold in and access to Europe.
"This is thanks to our exceptional skills, business infrastructure, low cost base and global business network. I am delighted that Genpact will locate its new European facility in Scotland, with support from Scottish Enterprise."
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