Belfast Telegraph

500 finance jobs boost for Newry

A financial technology company is to create almost 500 jobs in Co Down.

First Derivatives is a global provider of trading and risk management software systems and consulting services for multinational financial institutions.

It is creating 484 jobs at its Newry headquarters.

The company already employs more than 900 staff worldwide with additional business locations in Belfast, Dublin, London, New York, Philadelphia, Hong Kong, Tokyo, Singapore and Sydney

The expansion of the workforce has been facilitated with the help of a grant of almost £4 million from the executive's business support agency Invest NI.

Chief executive Brian Conlon said: "These investments will substantially increase the capacity of First Derivatives and enable the Group to develop new business in export markets. Critical to the success of our business is the quality of staff, and we know from experience that we can recruit excellent staff locally. Invest NI's ongoing support continues to be essential to our growth plans."

First Minister Peter Robinson, Deputy First Minister Martin McGuinness and Economy Minister Arlene Foster attended this morning's announcement in Newry.

Mr Robinson said the jobs would generate in excess of £22 million a year to the local economy in salaries.

"The Northern Ireland Executive has made growing our economy its number one priority and through continued job creation and expansion by companies such as First Derivatives Group we will meet that goal," he said.

"First Derivatives is one of Northern Ireland's most successful indigenous software companies and should be commended on its remarkable achievements in what is a highly competitive global market.

"I very much welcome that today's investment will see First Derivatives Group grow its staff to almost 1,500 worldwide with clients from the top 100 global financial institutions."

Mr McGuinness said: "I am delighted to be in Newry for the announcement of 484 high quality jobs. This is another sign the Executive's plans for jobs and investment are working.

"Today's announcement is a clear indication that First Derivatives remain responsive to the evolving needs of global markets. They are a local company with an international reputation for quality of services and everyone involved should be proud of their achievements. I wish First Derivatives Group continued commercial success which will benefit not just the people of Newry but everyone in the north of Ireland."

Mrs Foster added: "One of Invest NI's key objectives is to support the creation of high value jobs with salaries above the Northern Ireland average, such as those being created by First Derivatives today, as these will ultimately help to rebuild and rebalance our economy."

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