Chief Executives from Standard Life, Baillie Gifford, Kames Capital, Artemis Investment, Martin Currie and Aberdeen Asset Management have written a joint letter to Vince Cable and officials at the Department of Business Information and Skills urging them to locate the new Bank in Edinburgh.

They argue that their businesses have thrived in Edinburgh "because of the city’s capacity to attract and retain people with high levels of investment and experience" and that the Green Investment Bank would benefit from the "quality of Edinburgh’s transaction system and its cost effectiveness, infrastructure and global connections".

It comes as five other Scottish cities also get behind Edinburgh’s ambition to host what will be the world’s first investment bank dedicated to green technologies. In a show of unity, Leaders of Aberdeen, Dundee, Glasgow, Highland and Stirling Councils have all expressed their support for Edinburgh, arguing that it will have a positive knock-on effect across Scotland.

The full press release is available from the Scottish Enterprise Media Centre