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18/11/2004
Top finance firm to create 375 jobs in Belfast
The world’s largest financial services company has announced it is to create 375 jobs in Belfast.
Citigroup said it is setting up a technology centre of excellence in Belfast which will contribute some £65 million to the local economy over its first five years.
Announcing the investment, Secretary of State Paul Murphy revealed that the project is being supported by Invest NI which is contributing over £7.6 million towards the venture.
Leslie Morrison, chief executive of Invest NI, said today’s announcement was the culmination of over two years of negotiation between Citigroup and Invest NI and represented a significant affirmation of Northern Ireland’s capability.
“The establishment of a technology centre of excellence fits very well with Invest Northern Ireland’s focus on developing the software and financial services sectors and encouraging R&D and application development activities,” Mr Morrison said.
“We hope it will act as a catalyst to stimulate further growth in this specialist sector, which has already attracted global brands such as Liberty IT and Northbrook, to Northern Ireland.”
As well as creating high value jobs the investment will introduce new investment banking technology and skills to Northern Ireland strengthening the region’s attraction for other potential inward investors, Mr Morrison added.
Bill Mills, Chief Executive Officer of Citigroup’s Global Corporate and Investment Bank in EMEA, said: “Citigroup has ambitious growth plans which depend on developing the technology platforms supporting each of our business areas. The Belfast Centre will play a significant role in this, enhancing our cost competitive position and offering us the opportunity to grow resource levels quickly.
“As part of Citigroup’s investment in Belfast, the company is also supporting the creation of the first Academy of Finance in Northern Ireland, which will be run as a collaborative venture by Ashfield Boys High School, The Girls Model School, St. Patrick’s College, Bearnaghaeha, and the UK Career Academy Foundation.”
Citigroup brings together banking, insurance, and investments under one umbrella, employing 275,000 and managing 200 million customer accounts across six continents in more than 100 countries.
(MB/SP)
Citigroup said it is setting up a technology centre of excellence in Belfast which will contribute some £65 million to the local economy over its first five years.
Announcing the investment, Secretary of State Paul Murphy revealed that the project is being supported by Invest NI which is contributing over £7.6 million towards the venture.
Leslie Morrison, chief executive of Invest NI, said today’s announcement was the culmination of over two years of negotiation between Citigroup and Invest NI and represented a significant affirmation of Northern Ireland’s capability.
“The establishment of a technology centre of excellence fits very well with Invest Northern Ireland’s focus on developing the software and financial services sectors and encouraging R&D and application development activities,” Mr Morrison said.
“We hope it will act as a catalyst to stimulate further growth in this specialist sector, which has already attracted global brands such as Liberty IT and Northbrook, to Northern Ireland.”
As well as creating high value jobs the investment will introduce new investment banking technology and skills to Northern Ireland strengthening the region’s attraction for other potential inward investors, Mr Morrison added.
Bill Mills, Chief Executive Officer of Citigroup’s Global Corporate and Investment Bank in EMEA, said: “Citigroup has ambitious growth plans which depend on developing the technology platforms supporting each of our business areas. The Belfast Centre will play a significant role in this, enhancing our cost competitive position and offering us the opportunity to grow resource levels quickly.
“As part of Citigroup’s investment in Belfast, the company is also supporting the creation of the first Academy of Finance in Northern Ireland, which will be run as a collaborative venture by Ashfield Boys High School, The Girls Model School, St. Patrick’s College, Bearnaghaeha, and the UK Career Academy Foundation.”
Citigroup brings together banking, insurance, and investments under one umbrella, employing 275,000 and managing 200 million customer accounts across six continents in more than 100 countries.
(MB/SP)
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