First Derivatives plc has announced a major investment, supported by Invest NI, to create 484 new high quality jobs in its headquarters in Newry.
First Derivatives is a global provider of trading and risk management software systems and consulting services for multinational financial institutions.
The announcement of Invest NI’s grant assistance, for a total of £3.9 million in support of the expansion of employment, was made by First Minister Peter Robinson and Deputy First Minister Martin McGuinness.
First Derivatives is one of the fastest growing capital markets vendors in the world, with its clients being selected largely from the top 100 global financial institutions.
It currently employs over 900 staff worldwide with business locations in Newry, Belfast, Dublin, London, New York, Philadelphia, Hong Kong, Tokyo, Singapore and Sydney.
First Minister Peter Robinson said: “I very much welcome that today’s investment will see First Derivatives Group grow its staff to almost 1,500 worldwide with clients from the top 100 global financial institutions. First Derivatives is one of Northern Ireland’s most successful indigenous software companies and should be commended on its remarkable achievements in what is a highly competitive global market”
The increase in headcount will enable FD to continue the expansion of its software and consulting business. This sustained growth ability is possible due to its range of business propositions like its innovative Near Shore services that have proven popular with customers who see the joint benefits of reduced cost and swift access to high calibre capital market consultants that traditional outsourcing methods often fail to provide.
Deputy First Minister Martin McGuinness said: “Today’s announcement is a clear indication that First Derivatives remain responsive to the evolving needs of global markets. They are a local company with an international reputation for quality of services and everyone involved should be proud of their achievements.”
Brian Conlon, CEO, First Derivatives plc said: “These investments will substantially increase the capacity of First Derivatives to develop new business in export markets. Critical to the success of both businesses is the quality of staff, and we know from experience that we can recruit excellent staff locally. Invest NI’s ongoing support continues to be essential to our growth plans”
Speaking at the jobs announcement event in Newry, MLA Danny Kennedy said: “The story of First Derivatives is one of tremendous growth and expansion which is of great credit to the local founder and Chief Executive of the company, Brian Conlon. From small beginnings in Newry it now has an operational presence in Europe, North America, Asia and Australia with about 900 people working for the company in Newry, New York, Shanghai and Sydney.
“It proves again that local companies with inspirational leadership can succeed in the global marketplace. Today’s expansion announcement is great news for the Newry district in particular, and Northern Ireland in general.”
Newry Mayor Dáire Hughes said: “I was delighted to be in First Derivatives today to hear this wonderful announcement.
“First Derivatives are one of Newry’s major success stories with staff working in every major financial market in the world.
“I am proud to say that First Derivatives are a local company and I commend them for choosing to establish the company in Newry City Centre and for remaining there providing high quality jobs for many local people.
“I listened to CEO Brian Conlon making this announcement and explaining what the new recruits will be doing, providing software to global financial markets.
“I am delighted that my colleague Conor Murphy MP was credited by Mr Conlon for providing the initial development grant to the company in 1997 and it was great to see Peter Robinson, Martin McGuinness and Arlene Foster in Newry today along with many people involved in business development locally.
“The work ethic demonstrated by First Derivatives fantastic and I hope that many young people from this area find inspiration in this company’s success.”
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