New Financial Services Centre Bound for Belfast

Jul 26, 2005

Grafton Recruitment has chosen Belfast as the location for its new financial shared services centre, Payzene Ltd.

The new centre, which is being supported by Invest Northern Ireland, will eventually employ 43 staff who will carry out back office functions such as payroll, credit control and producing management information.

Welcoming Grafton’s decision to set up Payzene in Northern Ireland, Leslie Morrison, chief executive of Invest NI, said: “We have been successful in encouraging companies such as Grafton and Caterpillar to broaden the spectrum of their operations in Northern Ireland by diversifying into such support services and now have a significant and growing financial services sector.

“This decision by an internationally successful company to locate its support facility in Belfast reaffirms the strength of the Northern Ireland proposition. In particular it reflects confidence in the skills of our workforce and in our high performance technical infrastructure.”

Sixteen staff will initially transfer from Grafton to Payzene and the project will provide 27 additional quality jobs, contributing over £1.1million annually to the local economy in salaries.

Initially Payzene will provide services for Grafton companies in the UK and Ireland and will then extend the support to Grafton’s overseas network. The long-term aim is to offer outsourced payroll and human resource services to Grafton’s extensive client base.

Aine Maria Mizzoni, managing director of Grafton in Ireland, said: “This is an exciting development for Grafton and a major step towards our goal of offering our clients total employment solutions.  Various locations around the world were investigated as potential sites for Grafton’s new financial shared services centre.  After a long decision process it was decided to locate the centre in Northern Ireland.  We were attracted to Belfast because of the availability of a skilled workforce, the relatively low cost base and the support offered by Invest NI. We’re looking forward to developing a centre of expertise within Payzene that will contribute significantly to the future success of the Grafton Group.”

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