Belfast Attracts Investment from Major U.S. Financial Company

Oct 19, 2004

Florida based multinational company, Ocwen Financial Corporation (OCN), listed on the New York Stock Exchange, is to invest £4.7 million to set up a data centre and technical support facility in Belfast.

The investment is being backed by Invest Northern Ireland, and will initially create 12 jobs in this capital-intensive project.

Announcing the investment Leslie Morrison, Chief Executive of Invest NI said: “This project will accrue significant benefit to the economy. It is creating quality jobs and introducing new technologies that will further enhance and diversify the skills of Northern Ireland’s workforce.”

“The project was identified and pursued by the Invest NI team in Atlanta and Belfast, and through their dedication we have secured this investment for Northern Ireland. “

Mr Morrison added that Ocwen had considered several other locations within Europe but was drawn to Northern Ireland because of the available skilled workforce, advanced telecommunications infrastructure; and the professional support and financial support offered by Invest Northern Ireland.

“Long-term the Ocwen project offers tremendous growth potential and will provide an excellent opportunity for Northern Ireland to further expand its information and communications technology sector. We’re continuing to invest substantially in companies with the ability to enhance their global competitiveness and add value to the Northern Ireland economy” said Mr. Morrison.

Ocwen is a global leader in the deployment of software, voice over IP and network technology. The investment involves the establishment of a Data Centre that will feature state-of-the-art technology and will provide half of all processing capacity and communications support for Ocwen’s global requirements. It will also serve as a global communications hub supporting international voice and data traffic transport, routing and monitoring. Ocwen utilizes the rigorous project methodology of Six Sigma and is well-recognized as a sophisticated leader in providing people, expert processes and technology to the mortgage and financial services industry.

According to William C. Erbey, Chairman & CEO of Ocwen, “This investment is integral to our strategy for growth. The Northern Ireland facility will enable us to continue to expand our global presence and strategic operations, including the addition of extensive activities within Europe. In addition, we will be physically closer to the Asian markets. I’m confident that the Belfast operation will play an important role in the ongoing development and success of Ocwen.”

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