Citi expansion creates 145 new jobs in Northern Ireland

Jul 07, 2008

Economy Minister Arlene Foster today announced a significant expansion by Citi, creating 145 new jobs at its Belfast Operations Centre.

The expansion, which is being supported by Invest Northern Ireland (Invest NI), is Citi’s fourth since it established its initial Technology Centre of Excellence in Belfast in 2004.

Invest NI has offered Citi £2million to support this latest project creating 145 new operations posts, and bringing Citi’s total employment in Belfast to over 850.

Citi’s operations division supports its Markets and Banking business. The team in Belfast works with colleagues globally, to ensure efficient, effective and market leading, clearance, settlement and execution of more than a trillion dollars worth of trades and the movement of billions of dollars in dozens of currencies every day.

Announcing the investment, Economy Minister Arlene Foster said: “As the US- NI conference demonstrated, Northern Ireland can supply the high quality skills and infrastructure that international banking institutions, such as Citi, need in order to remain competitive. “Invest NI has been working with Citi for over six years and today’s announcement is the culmination of many months of hard work on both sides.

“Citi’s continuing expansion in Northern Ireland is further evidence of the region’s attractiveness to global financial services firms and it highlights the importance of Citi, and the wider sector, to our local economy.”

Cathy Munro, Managing Director EMEA Securities and Banking Operations at Citi added: “Since 2004 we have established technology, operations and legal and compliance functions in Belfast, creating a total of 861 new jobs. The success of those functions has been an important factor behind this latest decision.

“The strength of the available skills base within Northern Ireland is backed by a strong educational system and has been borne out in our recruitment efforts over the past three years. We are confident such success will continue.”

Citi, which currently operates out of a number of locations in Belfast, including the White Star Building at the Northern Ireland Science Park, also confirmed today that it has signed a lease to occupy two of the three new Gateway Office Buildings at Titanic Quarter, adjacent to the Odyssey, to facilitate its growth plans. In addition to the technology and operations centres,

Citi also has a legal and compliance division based in Belfast.

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