Financial services group Citi to create 600 jobs in Belfast

Citi, the American financial services company, today confirmed plans to create 600 new jobs in a £54 million investment project in Northern Ireland.

The group, which celebrates its 10th year in the North this year, currently employs 1,500 people in Belfast.

Citi, which is located in the Titanic Quarter, first invested in the North in 2004 but it has repeatedly re-invested and significantly expanded its operation to increase the portfolio of services its provides.

James Bardrick, Citi country officer for the United Kingdom, said the success of its Belfast site - which currently provides operations/technology, legal/compliance and recently human resources functions - was an important factor behind its decision to create another 600 jobs.

Mr Bardrick said: “The supply of talent in Northern Ireland, particularly at graduate level, is impressive and, coupled with the support from Invest NI and the Department of Employment and Learning (DEL), it makes this region highly attractive to a global company like Citi seeking the best location for growth.”

The North’s First Minister Peter Robinson said the latest investment reflected the company’s continuing commitment to Belfast.

Mr Robinson said: “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.”

The North’s deputy First Minister Martin McGuinness also outlined that the new jobs have the potential to inject £21 million in annual salaries into the local economy.

“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,” Mr McGuinness added.

Citi has been offered a financial assistance package to support the latest job investment project, Invest Northern Ireland has offered Citi support of £5,968,000 and DEL has offered £246,000 under its Assured Skills programme.