Firm’s arrival ‘shows city’s importance’

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The arrival of a Swiss banking software firm in Edinburgh is a further sign that the Capital remains a “highly important” financial centre, city leaders say.

The Evening News revealed last month that Avaloq plans to open a development centre in the city later this year, which could lead to the creation of 500 jobs in the next five years.

Councillor Tom Buchanan, the city’s economic development leader, said: “I am delighted to welcome Avaloq to Edinburgh. Avaloq aims to create 500 new jobs over the next few years, including a large number of graduate positions.

“In partnership with SDI, the city council went to great lengths to ensure that Avaloq’s destination of choice was the capital of Scotland. This announcement reinforces the fact that Edinburgh remains a highly important financial services centre.”