Construction NewsConstruction Directory Custombuilt Joinery Ltd
Panelcraft Access Panels A & M Timber Begetube (uk) Ltd At Home Construction Ltd Glasgow Stone Specialists Ltd Meikle Builders Coalburn Ltd A.G.S Steel Erectors Ltd William Wilson Morris & Spottiswood Ltd MG Scotland Training Ltd CGP Welding Ltd Seaforth Double Glazing and Home Improvements Northcote Services Peterkin Homes Limited Tile King Architectural Design Solutions

Scottish Industry News

09/03/2012

First GIB To Be Based In Edinburgh And London

The Business Secretary Vince Cable announced today that the first ever UK Green Investment Bank (GIB) will be based in Edinburgh and London.

The headquarters of the GIB will be located in Edinburgh, with the GIBís main transaction team based in London. This arrangement will enable a greater commercial reach nationally than could be achieved from one location.

Sitting the bank across these two locations will enable the GIB to become a world leader, playing to the strengths of Edinburgh and London.

Mr Cable said: "Harnessing the strengths of Edinburgh and London will support the Green Investment Bank's ambition to become a world leader. Edinburgh has a thriving green sector and respected expertise in areas such as asset management. London, as the worldís leading financial centre, will ensure that the GIBís transaction team can hit the ground running.

- - - - - - Advertisement - - - - - -
Glasgow Stone Specialists Ltd

"This decision will allow the GIB to operate effectively and achieve its mission of mobilising the additional investment needed to accelerate the UKís transition to a green economy."

Scottish Secretary Michael Moore said: "I am delighted that the Green Investment Bank will be headquartered in Edinburgh. Scotland has enormous green energy potential and its capital is the UKís second biggest financial centre.

"The size and scale of the UKís single energy market ensures the level of investment that will unlock Scotlandís renewables future, providing sustainable and affordable green energy across the UK. It makes perfect sense to have a GIB presence there.

"By basing the GIBís corporate HQ, asset management and administrative functions in Edinburgh and its transaction team in London, we can harness expertise across the country to deliver a strong and successful GIB for the UK."

The next step for the GIB is the recruitment of the Chair and Senior Independent Director so that it will be in a position to be fully operational this Autumn, subject to state aid approval for the GIB. The GIB is expected to employ 50-70 full time equivalent staff across the two sites.

(CD/GK)
Bookmark and Share

Top Stories
30/10/2014
Works Begin On Banff Bridge
30/10/2014
Irvine Housing Launches New Customer Service Centre
30/10/2014
Workless Household Numbers Drop
30/10/2014
SHR Announces Consultation On Accounting Determination
30/10/2014
147 Homes Announced For Stirling
30/10/2014
Scottish Rural Islands Housing Conference Begins
30/10/2014
Highland, Moray Councils Launch Property Finder Website
30/10/2014
40 Homes Developed In Galston
29/10/2014
49 Homes Announced In North Glasgow
29/10/2014
£300k For Forth Bridge Project
Construction News Archive
Submit News Story
Editorial Staff
home
UK Construction Industry News
Works Begin On Banff Bridge
Irvine Housing Launches New Customer Service Centre
Workless Household Numbers Drop
SHR Announces Consultation On Accounting Determination
147 Homes Announced For Stirling
Scottish Rural Islands Housing Conference Begins
Highland, Moray Councils Launch Property Finder Website
40 Homes Developed In Galston
49 Homes Announced In North Glasgow
£300k For Forth Bridge Project
£25m Visitor Resort Planned For Ben Nevis
Shelter Scotland To Make Private Renting 'Fairer'
Subscribe to email news

national News
Radical Changes Needed To Drugs Laws - Baker
National Sperm Bank Launches In Birmingham
Man Arrested Over Jean McConville Murder
Maximus To Carry Out Assessments For DWP
Barclays Sets Aside £500m For Currency Rigging Fines
Schools Are Underperforming - NAO
Father Of Sarah Payne Dies Aged 45
Man Arrested Over Terrorism Offence In Hackney
Murder Investigation Launched After Body Parts Discovered On Island
Man's Body Found Impaled On Railings In West London
DEC To Launch Appeal For Ebola Crisis
Homecarers Travel Time Is Not Paid - Unison
Crime Victims Pay The Price For Police Budget Cuts
Other News In Brief
Construction News Archive
download the Construction app from the app store
comp connection Nimmo Joinery Limited Kitchens By Allan Craig See-IT-3D Door Automation (Scotland) Ltd AR-EL Workshop Equipment Ltd Martin Property Care Limited Cyclone Steel Buildings Pinefield Glass Caledonian Heating & Plumbing Ltd H Meanen (Electrical Services) Ltd Clyde Windows & Construction Ltd Solar & Wind Applications Ltd Ace Painters And Decorators Anderson Floor Warming Ltd Cappers Plant Hire
Caledonian Heating & Plumbing Ltd
Flagship Media Group Ltd
Unit C3, 6 Westbank Drive, Belfast,
BT3 9LA, Northern Ireland
Tel (+44) 28 9031 9008
Contact : Click here
Website Terms and Conditions

keycons003 / keycons003x44 31/10/2014 06:53:39 / A3 / B3 / 0.03125, 54.167.171.186 / BOT1

First GIB To Be Based In Edinburgh And London - The Business Secretary Vince Cable announced today that the first ever UK Green Investment Bank (GIB) will be based in Edinburgh and London.