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US financial services firm Citi creating 600 jobs in Belfast

US financial services company Citi is creating 600 new jobs in Belfast in a £54m investment.

Citi Belfast already employs around 1,500 people in its offices in the regenerated Titanic Quarter.

Stormont business promotion agency Invest NI has contributed almost £6 million to the investment while the Department of Employment and Learning has offered an additional £250,000 of state support.

Citi said the "highly skilled" posts would be deployed providing a range of support services to the global organisation.

The company first set up a technology operation in Belfast in 2004 and since then has made a number of reinvestments, expanding services to include operations and technology, legal, compliance and more recently human resources.

James Bardrick, country officer with Citi UK, said: "The success of our current operations in Belfast was an important factor behind this latest decision to create another 600 jobs.

"The supply of talent in Northern Ireland, particularly at graduate level, is impressive and, coupled with the support from Invest NI and DEL, it makes this region highly attractive to a global company like Citi seeking the best location for growth."

Stormont's First Minister Peter Robinson, Deputy First Minister Martin McGuinness, Economy Minister Arlene Foster and Employment and Learning Minister Stephen Farry attended the investment announcement this morning.

Mr Robinson said: "This £54m announcement creating 600 new jobs by Citi, one of the most prestigious financial services companies in the world, reflects the firm's confidence in its Belfast operations and its continuing commitment to Northern Ireland

"The Financial Services sector is at the heart of the economy and the decisions and transactions that take place in Belfast will impact across the globe. The £35,000 salary that these jobs will attract reflects the skill set and calibre of individuals required to fulfil these roles.

"Northern Ireland continues to draw a range of highly skilled companies and this by decision Citi to reinvest in Northern Ireland is the strongest possible endorsement of what we have to offer."

Mr McGuinness added: "Citi ramping up its presence here is outstanding news. This significant expansion by the corporate giant Citi will inject over £21 million of new salaries to the local economy annually.

"Citi's presence here over the past ten years has played a major role in developing the financial services sector both in providing jobs and training. This reinvestment will create much needed highly skilled jobs and also increase the skills base of the financial services sector by introducing specialist investment banking functions.

"Citi has approximately 200 million customer accounts and does business in more than 160 countries, so this announcement will create exciting opportunities for graduates and people who may wish to return home to the north of Ireland."

Online Editors