Citi expands presence in Belfast

Citi Markets and Banking (CMB) today announces the further expansion of its Belfast Centre of Excellence, with plans to establish a Legal & Compliance Division and create up to 39 new jobs.

This will be the third division established in Citi’s Centre of Excellence, following the original technology division formed in 2004 and the operations group announced earlier this year. Establishing the operations group will lead to the creation of 117 jobs over the course of 2007.

Many of the roles in the new legal and compliance team will be particularly suitable for law graduates and those who are professionally qualified, although Citi will also recruit from the broad base of talent within Northern Ireland.

The team in Belfast will work with colleagues in London to support Citi’s Markets & Banking operations across Europe, Middle East and Africa (EMEA). The legal and compliance division play a critical role within Citi, supporting and advising many business groups in areas such as transaction negotiation, document execution and compliance and regulatory requirements.

In November 2004, Citi announced plans to create 375 technology and operations jobs by the end of 2008. Over 400 people now work in the Belfast Centre, and that should grow to more than 700 across technology, operations, legal and compliance by 2009.

“Across the financial services industry the work of in-house legal and compliance teams continues to grow in scope and complexity and we are delighted to be establishing this new legal and compliance division in Belfast,” said Brad Gans, Citi’s General Counsel for CMB EMEA.

“We hope to offer outstanding, highly motivated individuals the challenge, responsibility and global perspective of a career at Citi,” added Peter Maskrey, Head of CMB Compliance in EMEA.

Stephen Kingon, Chairman of Invest Northern Ireland added: "Today's announcement is yet another boost for the local financial services sector and demonstrates Northern Ireland ability to compete globally for inward investment in a challenging marketplace."