By Steve Slater
LONDON (Reuters) - Barclays
The London-based bank opened its technology hub in Dallas, Texas, on Thursday. It said it expects to have up to 700 staff there by the end of 2014, mostly new recruits but possibly including staff moved from other parts of the bank.
Staff will develop software and systems, such as trading platforms for fixed income instruments, and work on developing digital and mobile platforms for consumer banking.
"The aim is to attract innovators who can help us drive the transformation and strategic integration of global innovation platforms in banking and financial products, and ensure Barclays maintains its position as a leader in this space," a spokesman for the bank said.
The bank said Dallas was chosen because it is a technology hub with a high number of qualified graduates and professionals and offers a potential lifestyle to help it attract and keep good staff.
Antony Jenkins, who took over as Barclays' chief executive in August last year, is putting a focus on technology, saying new products and systems could over time cut the number of staff the bank needs by a quarter, or 40,000 fewer than it has now. He named Shaygan Kheradpir as head of operations and technology in one of his first senior appointments.
(Reporting by Steve Slater; Editing by Carmel Crimmins and Greg Mahlich)