Hain welcomes 185 new jobs through Citigroup expansion

Feb 15, 2007

Secretary of State Peter Hain MP today welcomed an announcement by global financial services firm Citigroup that it is to create a further 185 new jobs at its technology centre of excellence in Belfast.

This latest investment will contribute a further £21m to the local economy and will bring employment at Citigroup’s Belfast operation to 560. In support of this additional investment, Invest NI has offered £3.6m in financial assistance.

Robert Druskin, Chief Executive Officer, Citigroup Corporate and Investment Banking, made the announcement as he and the Secretary of State officially opened the new Citigroup premises at White Star House in the Northern Ireland Science Park.

Speaking at the event, Mr Hain said: “Citigroup’s commitment to Northern Ireland is clearly evident through that initial investment, the first such investment by a global banking corporation in this region, and the subsequent growth of the Belfast centre of excellence. In 2004 Citigroup announced that it planned to create 375 jobs in Belfast contributing £65m to the economy.

“This new investment will strengthen Citigroup’s presence in Northern Ireland, provide high quality, sustainable career opportunities and further enhance and build Northern Ireland’s reputation as a world class centre for financial services companies.”

Mr Hain added: “This is an important sector for the future growth of the local economy, and this investment will undoubtedly increase the region’s competitiveness, grow and deepen the skills base and be a huge flagship to attract similar financial services investment.”

Making the announcement, Mr. Druskin said: “Our Belfast centre has delivered significant benefits to our global operations, enhancing competitiveness and enabling us to tap into the advanced technology and knowledge skills base which continues to grow in Northern Ireland.

“With the rapid development of our Belfast operation, we are now in a position to strengthen our presence with a second major investment. We are confident that through our renewed commitment to this region we will continue to add value both to Citigroup and the NI economy.”

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