Sept 14 (Reuters) - The British government on Saturday
announced over 1.25 billion pounds ($1.69 billion) in fresh
investment from major U.S. financial firms, including PayPal ( PYPL )
, Bank of America ( BAC ), Citigroup ( C/PN ) and S&P
Global ( SPGI ), ahead of a state visit by President Donald
Trump.
The investment is expected to create 1,800 jobs across
London, Edinburgh, Belfast and Manchester, and deepen
transatlantic financial ties, the Department for Business and
Trade said.
Bank of America ( BAC ) will launch its first operation in Northern
Ireland, creating up to 1,000 jobs in Belfast. Citigroup ( C/PN ) plans
to invest 1.1 billion pounds across its UK operations, including
a further commitment to growing its presence in Northern
Ireland.
S&P Global ( SPGI ) will invest over 4 million pounds in Manchester,
supporting 200 permanent roles, while BlackRock ( BLK ) is
expected to allocate 7 billion pounds to the UK market next year
and has opened a new office in Edinburgh, nearly doubling its
local workforce.
"These investments reflect the strength of our enduring
'golden corridor' with one of our closest trading partners,"
said Britain's trade minister, Peter Kyle.
Finance minister Rachel Reeves said the investments would
"kickstart the growth that is essential to putting money in
working people's pockets across every part of the United
Kingdom."
The government said the deals line up 20 billion pounds in
trade between Britain and the U.S.
Also on Saturday, the British Embassy in Washington said the
countries were planning to sign a technology agreement in the
coming days to bolster collaboration between their
trillion-dollar tech sectors.
Trump is to fly to Britain on Tuesday for his second state
visit, which is expected to last three days.
($1 = 0.7377 pounds)