IT Firm To Create 484 Jobs

First Derivatives, a financial technology firm, has announced it is to create 484 jobs at its headquarters in Newry.

It is understood Invest NI has provided £3.9m towards the expansion and jobs creation.

First Derivatives is a global provider of trading and risk management software systems and consulting services for multinational financial institutions and technology vendors. The company has said the expansion will enable it to extend its software and consulting business.

Welcoming the announcement, 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."

Brian Conlon, CEO, First Derivatives plc added: "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."

Alliance Finance spokesperson, Judith Cochrane MLA, also welcomed the news saying: "This will be a massive boost to the Newry and wider economy. It is further evidence that our economy is beginning to recover following the financial downturn.

"These high value posts are exactly the type of jobs that we should be looking to create in Northern Ireland. There are many opportunities within the IT and financial services sectors for further growth and I hope to see more positive announcements in the future.

"First Derivatives is a local success story and is proof of our entrepreneurial spirit, and I would like to congratulate all involved in the company."

First Derivatives was founded by Mr Conlon in 1996. It currently employs more than 900 staff worldwide with locations in Newry, Belfast and Dublin, as well as London, New York, Sydney and Tokyo.

(JP/MH)