BNP Paribas will move into Glasgow's financial district

French bank BNP Paribas intends to recruit an extra 370 staff to its offices in Dundee and Glasgow during the next three to five years.

The firm employs 125 people in Scotland and plans to take over a floor of the Aurora building in Glasgow.

Scottish Enterprise Minister Jim Mather expressed his delight at the announcement.

This grant will enable us to support this growth in our operations centres in Glasgow and Dundee, accessing the local markets which are rich in talent Tony Solway, Head of securities services

He said: "We wish the company every success for the future and remain committed to driving a vibrant, dynamic economy in Scotland."

The bank was created in 2000 through the merger of Banque Nationale de Paris and Paribas.

It is one of the three oldest banks in France, employing 140,000 people and has a presence in more than 85 countries.

Tony Solway, head of BNP Paribas Securities Services UK, said a government grant had allowed the expansion.

'Significant operations'

He said: "We have long established relationships with asset managers in Scotland and anticipate strong growth in our business in the coming years.

"This grant will enable us to support this growth in our operations centres in Glasgow and Dundee, accessing the local markets which are rich in talent."

Martin Togneri, chief executive of Scottish Development International, said Scotland was now recognised as one of Europe's leading financial centres.

He added: "Already half of the world's top 20 financial services companies have significant operations in Scotland and this project was won in the face of intense European competition."