New Barclays Capital R&D center to be built in Tel Aviv

March 14, 2011 11:16


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Barclays Capital said it plans to found a research and development center in Israel, to be called the Israel Development and Engineering Centre (IDEC), the Finance Ministry announced in an official statement Monday. The new center will be located in Kiryat Atidim, Tel Aviv, and will supply development and engineering services meant to support international financial activities of Barclays Capitals.

Barclays plans on hiring 200 employees trained in the technological and financial sectors.

Barclays was the first company to accept Israel's recent offer of special incentives to financial-services companies that wish to establish research centers within Israel, the Finance Ministry said in its official announcement.

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