International Financial Services District
Sgìre Seirbheisean Ionmhais Eadar-nàiseanta (Scottish Gaelic)
Current logo of the IFSD
Part of the IFSD as viewed from West Street, 2011
General information
Status	Completed
Type	Multiple buildings containing office space
Location	Broomielaw
Town or city	Glasgow
Country	Scotland
Coordinates	55°51′24″N 4°15′45″W / 55.85677°N 4.26241°W / 55.85677; -4.26241
Current tenants	Direct Line Group Chubb, Atkins Credit Suisse, Direct Line, Barclays, BNP Paribas, JPMorgan Chase, NFU Mutual, Morgan Stanley, JPMorgan Chase, SWIP, esure, Scottish and Southern Energy, Scottish Courts and Tribunals Service, Department for Work & Pensions, Aon
Groundbreaking	2000–2001
Construction started	2001
Completed	2003
Opened	2003
Renovated	2018–present, new buildings under construction
Cost	£1 billion
Client	Scottish Enterprise
Owner	Scottish Enterprise, Glasgow City Council
Management	Scottish Government, Scottish Development International, Skills Development Scotland, Glasgow Chamber of Commerce, Glasgow Economic Leadership, BT and numerous, financial institutions, property developers and investors
Grounds	3 million sq ft (across multiple buildings)[1]
Website
www.ifsdglasgow.co.uk

The International Financial Services District (IFSD) (Scottish Gaelic: Sgìre Seirbheisean Ionmhais Eadar-nàiseanta) is a public-private financial district in Glasgow, Scotland. Based at Scottish Enterprise, the venture aims to create an attractive inward investment location for leading international financial services companies and a re-location option for existing Glasgow-based companies, seeking to expand their operations.

The district is over 3 million sq ft of office space which has been developed at the district since the start of the project in 2001.^[2] Nicknamed "Wall Street on the Clyde", it ranked in the top 40 of international financial districts, ahead of cities including Brussels, Madrid, Helsinki, Milan and Dublin.^[3] Today, it is a major hub in Glasgow for international business, as well as a major contributor to the Economy of Scotland. Notable tenants include Morgan Stanley, JPMorgan Chase and Barclays.^[4]

History

Prior to the launch of the IFSD in 2001, the long-term decline of the old Port of Glasgow and its associated wharves and warehousing had resulted in a neglected infrastructure in Glasgow's city centre area fronting the River Clyde, otherwise known as the Broomielaw. The result was a small number of isolated modern offices, standing adjacent to derelict land and vacant dilapidated buildings, loosely connected to Glasgow's traditional core business district centred on Blythswood Square at the western end of the city centre.^[5]

Planning led by Scottish Enterprise and Glasgow City Council aimed to create a new, dynamic focus for the area's regeneration, through the establishment of the IFSD. Regarded as an important development of Glasgow's financial services sector by creating space for 28,000 employees, this measure was recognised as vital to the city's economic fortunes. In order to develop a fully serviced financial services district and its long term potential, significant investment was granted in order to create the "right environment".^[6]

Definition

No official boundary of the IFSD exists; originally it referred to the approximately 1 square kilometre area of the city centre bounded by the M8 motorway to the west, the River Clyde the south, Hope Street to the east, and Sauchiehall Street to the north - taking in most of Blythswood Hill, the south eastern fringe of Anderston and part of Charing Cross. This has given rise to the area's nicknames in the popular press: the Square Kilometre (in reference to the "square mile" of the City of London), and more the popular and widely used Wall Street On Clyde.^[7]

However, the district has effectively extended onto the south bank of the Clyde following the construction of the Buchanan Wharf complex in Tradeston.

Economic Impact

Since its beginnings in 2001, the International Financial Services District has grown to become a major contributor to the Economy of Scotland, and by 2023, additional buildings, such as 1 Atlantic Square and Buchanan Wharf have been completed. Major international companies with either headquarters or offices within the International Financial Services District include Aon, Arthur J Gallagher, Ashurst and New Galexy, AXA Business Inusrance, Bank of Scotland, Lloyds Banking Group, Barclay's Bank, BNP Paribas, Morgan Stanley, JP Morgan, British Telecom, Clydesdale Bank, Eaton Corporation, First Data Corporation, HML, HSBC, Hymans Robertson, NFU Mutual, the Royal Bank of Scotland, Santander, the Student Loans Company and Tesco Bank.^[8]

Buildings & Notable Residents

Completed and operational

Offices of Morgan Stanley at the corner of Douglas Street, part of the IFSD

Development at The Cuprum, typical of recent developments in the IFSD

Site	Tenant(s)
14-18 Cadogan Street	Direct Line Group
200 Broomielaw	Vacant
6 Atlantic Quay	Credit Suisse Direct Line
Aurora Building	Barclays BNP Paribas
Alhambra House	JPMorgan Chase
Centenary House	NFU Mutual
122 Waterloo Street	Morgan Stanley
45 Waterloo Street	JPMorgan Chase
Cornerstone	Scottish Widows Investment Partnership
Equinox	esure
One Waterloo Street	SSE
3 Atlantic Quay	Scottish Courts and Tribunals Service
1 Atlantic Quay	Department for Work & Pensions
Sentinel Building	Aon
Sixty7	unoccupied
Buchanan Wharf	Barclay's Bank Student Loans Company
1 Atlantic Square	HM Revenue and Customs
2 Atlantic Square	Atkins BDO Global Burness Paull Siemens
177 Bothwell Street	Clydesdale Bank Virgin Money[9]

Transport

References

• Glasgow IFSD (2010) Glasgow International Financial Services District, Leaflet.
• Glasgow IFSD (2010) Glasgow International Financial Service District, Website, Available from: https://archive.today/20130505014554/http://www.ifsdglasgow.co.uk/Completed_Property.aspx.

External links

• Completed Buildings in Glasgow