Barclays is planning to inject millions of pounds into its squeezed stock broking arm Barclays Stockbrokers.
The cash injection follows the unprecedented surge in share dealings by private investors from 250,000 to 400,000 in two months. Its hoped the boost will enable the quadrupling of Barclays Stockbrokers internet dealing capacity.
The expansion plan is urgently needed to relieve the strain on Barclays Glasgow call centre. The pressure has forced the bank to close part of its business to new investors.
Barclays Stockbrokers managing director Tim Sheridan, said: “We were preparing for a 40 per cent increase in new business, not 100 per cent. With a jump like that something has had to give.”