Belfast Telegraph

Banking group to create 500 jobs

More than 500 financial services jobs are being created in Northern Ireland, it has been announced.

The investment by international banking group Citi will see a major expansion of its current operation in Belfast.

The boost has been backed by a £8.4 million grant from Government business support body Invest Northern Ireland.

But it was not all good news on the local jobs front, as Bank of Ireland confirmed details of a restructuring programme that will see around 220 jobs lost at its Belfast headquarters.

The move, first announced in the summer, will see the bank centralise its business support work in Dublin.

The announcement by US-based Citi comes weeks after Northern Ireland's political leaders attended a conference in Washington hosted by Secretary of State Hillary Clinton aimed at attracting stateside business to invest in the region.

Democratic Unionist First Minister Peter Robinson and Sinn Fein Deputy First Minister Martin McGuinness welcomed the 501 new jobs as they officially opened Citi's new offices in Belfast's Titanic Quarter.

Citi, one of the world's largest banking corporations, has been in the city since 2004 and currently employs 900 staff.

The workforce service the legal, operational and technology needs of Citi offices and clients around the world, but primarily in the Europe, Middle East and Africa market.

Mr Robinson said the move would generate £16 million of new annual salaries into the local economy. "Last month, at the US-NI economic conference in Washington, we had a unique opportunity to showcase Northern Ireland to some of the most senior people from blue chip US companies," he said.

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