US payments processor First Data announced it will open a call centre in Glasgow, creating 430 jobs over the next five years.

The Scottish Executive has punted £2.3m in development cash to attract First Data away from international competitors. The firm sells point of sale and cash machine services to banks and card companies worldwide.

Scottish Development International chief executive Martin Togneri said: "First Data is a key target to secure for Scotland. Its decision to locate here will help to reinforce and build the strength and breadth of the financial services industry in Scotland, sending a positive message to the industry worldwide."

Worth £5bn, financial services now generate almost six per cent of Scotland's GDP having grown 36.5 per cent in the last five years. Which is nice. ®