The UK division of Australian fintech firm Halo Technologies is establishing an operations and development center in Glasgow, which will create over 60 jobs in the city.
Halo, listed on the ASX, is a global provider of online equities research and trade execution software, offering institutional-grade analytical frameworks and market insights to everyday investors. The company introduced its UK subsidiary, Halo Invest, in January by acquiring Resilient Funds Management and appointing industry veteran Douglas Boyce as CEO.
The new unit has received an £800,000 grant from Scottish Enterprise to support its £8 million project in Glasgow, aimed at hiring more than 60 employees over the next two years. Boyce stated, “We had the opportunity to locate anywhere in the UK, but Glasgow proved to be the ideal city for us with its well-established mix of financial services and fintech talent.”
Scotland is home to over 220 fintech companies, making it the largest fintech hub in the UK outside of London. Jane Martin, Managing Director of Innovation and Investment at Scottish Enterprise, noted that “revenues in the fintech industry are projected to grow almost three times faster than those in the traditional banking sector over the next three years. We view this as a crucial breeding ground for new scaling businesses that will contribute to Scotland’s future economic growth.”