The Glasgow operation is now home to 1,600 members of staff and its managing director Vida Rudkin told The Herald that Morgan Stanley is committed to gradually increasing that number further.

In terms of marking the bank’s 20th anniversary in Glasgow, Ms Rudkin said some celebrations have been taking place, although not on the manner that the firm had originally envisaged.

An all-office, virtual open forum was hosted by senior management in Glasgow and London, at which staff watched a specially commissioned animated video to celebrate the landmark.

The anniversary was also commemorated on the huge digital screens at the bank’s headquarters on Times Square, New York.