Financial services giant Citigroup plans to create 117 jobs this year at a new operations centre in Belfast. The company already employs 300 people at a technology centre at Belfast's Queen's Island Science Park and has previously announced plans to boost employment there to 560 by 2009.
The new centre, announced yesterday, will provide back-end support for traders in Citigroup's Corporate and Investment Banking arm across Europe, Middle East and Africa. The investment is being backed by £1.6 million (€2.4 million) assistance from Invest Northern Ireland. It will bring Citigroup's total employment in Belfast to nearly 700.
According to chief operations officer William McQuitty, new recruits will not necessarily require degrees or financial services experience, since full training will be provided.
"We're looking for dynamic, committed people and our recruitment experience so far in Belfast has been very good."
Citigroup established a software and technology infrastructure facility in Belfast two years ago with initial plans to create 375 jobs by 2009.
"We're already at least two years ahead of our five-year plan and the feedback from clients has been very good," he added.
The company was among the first to arrive at the science park. Its offices are based at Whitestar House, overlooking the old dry dock where the Titanic was built.
The new operations centre will provide clearance, settlement and execution support for trades in dozens of currencies.
Citigroup estimates it handles more than a trillion dollars worth of trades a day and the movement of several billion dollars.
The company claims to be the first financial institution to establish such a centre in the North. Recruitment for the new jobs will begin next week.
Mr McQuitty said Citigroup's investment in the new centre was significant both in terms of infrastructure and training provided to recruits. "Based on our previous experience, we're expecting a very good response to the recruitment drive."
Citigroup is one of the world's largest financial services companies and operates in more than 100 countries. Its corporate and investment banking division has almost 52,000 employees globally. In Europe, the Middle East and Africa, its total employment count is 16,600.
The company operates similar support facilities in Dublin, Poland and the United States.
Leslie Morrison, chief executive of Invest Northern Ireland, said the company's investment was a "tremendous endorsement of the available skills and the rapidly developing knowledge base" in Northern Ireland.
