Glasgow newspapers were yesterday reporting that the Scottish city could be on the brink of a major jobs boost in its financial district based on reports that Bermuda-based Ace Ltd. had agreed to let five office floors in a new office building.

But an Ace spokesman in London told both the Glasgow Herald and the Glasgow Evening Times that although it had taken office space in the city, :there was nothing else to say at the moment?.

The newspapers reported that the space in the Broomielaw office complex could accommodate up to 400 staff.

The Glasgow Evening times said Ace ?employs only a handful of staff at a branch office in St. Vincent Street but it is reported to have agreed to rent five floors at a new office development in the Broomielaw.

It quoted an Ace spokesman saying: ?It?s true we have taken space in Glasgow but there is nothing else to say at the moment. We have regional insurance offices across the UK which deal with local broking firms.?

Job creators at Scottish Enterprise Glasgow were also reluctant to comment, the newspaper said.

?They say it?s a matter for the Ace Group but a senior insider said: ?They could be gearing up for a fairly major announcement of new jobs?.?

Glasgow launched its Intermational Financial Services District in 2001 with the aim of creating a ?Wall Street on the Clyde? that could attract ?1 billion of investments and 20,000 new jobs by 2011, the newspaper said.

So far the district has generated 4,000 new jobs. High-profile tenants include Morgan Stanley which is expected to expand and create another 200 jobs.

And American bank JP Morgan is taking on an extra 100 workers at its European technology centre in the district.