Citigroup today announced that it will establish a technology center in Belfast to support its growing corporate and investment banking business across Europe, the Middle East and Africa (EMEA). The new technology facility, which will be supported by Invest Northern Ireland, represents a significant investment for Citigroup in the UK and is expected to create up to 375 jobs over the next five years.
Northern Ireland Secretary of State, Paul Murphy, endorsed Citigroup’s investment by saying “Citigroup’s decision to locate its technology center here is a tremendous coup for Belfast and Northern Ireland and a huge endorsement of the quality of the workforce in this region.”
Citigroup’s technology operation in Belfast is expected to be operational by mid 2005.
Bill Mills, Chief Executive Officer of Citigroup’s Global Corporate and Investment Bank in EMEA, said “While technology is central to how we conduct business across the region, and indeed globally, we also rely on the innovation and commitment of our staff to make us truly competitive. Our ability to continue to execute innovative transactions and to serve our clients efficiently will be reliant in part on the work of those hired here in Belfast.”
As part of Citigroup’s investment in Belfast, the Company is supporting the creation of the first “Academy of Finance” in Northern Ireland, which will be run as a collaborative venture by Ashfield Boys High School, The Girls Model School in Dunkeld Gardens and St. Patrick’s College, Bearnaghaeha, and the UK Career Academy Foundation.
The Academy of Finance has helped thousands of young people in the United States raise their aspirations and achieve their academic and career goals. First established in the UK three years ago by Citigroup’s European Chairman, Sir Winfried Bischoff, the UK Career Academy Foundation is now changing the way that business and education work together, breaking down traditional barriers between the worlds of work and academia.