The move is a cornerstone of a wider £1.25 billion package of transatlantic investment that will create skilled jobs across the UK. Other cities set to benefit include London, Belfast, and Manchester.

Chancellor Rachel Reeves welcomed the news, stating that the investments “will create thousands of high-skilled jobs from Belfast to Edinburgh”. The sentiment was echoed by Jane Fraser, CEO of Citi Group, who highlighted Edinburgh as a key location for the bank’s nearly 14,000 UK colleagues.

This commitment from large US firms is reinforces the strength of the UK-US economic partnership and will strengthen Scotland’s financial services sector.

The investment from BlackRock is part of a £7bn commitment the firm is making to the UK over the next five years.

BlackRock will open its new Edinburgh offices on 18 September. This is a new home will allow Blackrock grow from 800 to 1,400. Once complete, two of the top five largest BlackRock offices will be in the UK.

Larry Fink, chairman and CEO of BlackRock, said: “As the largest asset manager in the UK, BlackRock is proud to serve over 13 million British people who are saving for retirement.

“Today we are announcing an investment of half a billion pounds into enterprise data centres across the country, advancing digital infrastructure for British-based businesses.

“In addition, over the last year our clients around the world invested over £7bn into UK public equity and fixed income securities. We expect this trend to continue, supporting jobs, growth and innovation across a wide range of British industries.”