Spence & Partners create 107 new financial services jobs in Belfast
Financial services group Spence & Partners will create 107 new jobs in Belfast over five years, it has been announced.
The company, which is part of Ellcon Investments, is investing £8 million in the local economy following its development of Mantle - an innovative cloud based software solution for the pensions industry.
Spence is based in Belfast with offices in London, Glasgow and Bristol.
Mantle is driving the company’s growth in export markets and its Belfast workforce will increase massively from 38 staff to 145.
Announcing the investment during a visit to the company, Enterprise Minister Arlene Foster said: “This substantial expansion is creating highly skilled employment opportunities in the IT and actuarial sectors, and is the result of the firm’s investment in research and development to create its ground-breaking Mantle product.
“The new jobs, 25 of which are already in place, will bring new skills to the important financial services sector and will generate £3.5m a year in salaries. As well as providing an employment grant, Invest Northern Ireland is supporting training for the new staff and has also supported the Mantle research and development project.
“This investment by Spence & Partners will contribute to the development of Northern Ireland’s skills base by creating a home-grown talent pool of financial services specialists in a key growth sector.”
Invest Northern Ireland has offered Spence & Partners over £1million towards its investment, part-funded by the European Regional Development Fund.
Spence director Neil Copeland said the company has ambitious plans to grow turnover in the next five years, with the aim of becoming one of the top ten firms operating in the UK defined benefit pensions market.
He said: “We are excited by the opportunities opening up for us on the back of our Mantle product, which is the only software system on the market that combines actuarial functionality and related administrative processes.
“Without Invest NI’s support the development of Mantle and the expansion of the company would have taken much longer and we would have risked losing momentum and missing out on market opportunities.”
Belfast Telegraph Digital