484 jobs created by Newry firm

Published Monday, 30 June 2014
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An IT consultancy firm has announced that it is to create 484 high quality jobs in Newry, Co Down.

First Derivatives provides trading and risk management software systems and consulting services for multinational financial institutions and technology vendors around the world.

Invest NI gave £3.9m to support the group's expansion plans.

Brian Conlon, CEO of First Derivatives plc, said: "These investments will substantially increase the capacity of First Derivatives and enable the Group to develop new business in export markets.

"Critical to the success of our business 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."

NI's leaders have welcomed the jobs boost.

First Minister Peter Robinson said the new posts will generate over £22m a year to the local economy in salaries and provide high quality employment opportunities.

"The Northern Ireland Executive has made growing our economy its number one priority and through continued job creation and expansion by companies such as First Derivatives Group we will meet that goal.

"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."

He added: "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."

Deputy First Minister Martin McGuinness described the announcement as "another sign the Executive's plans for jobs and investment are working."

"I congratulate Brian Conlon, CEO First Derivatives and his team who through their hard work and entrepreneurial spirit have developed a global company providing software and consulting services to the financial services sector.

"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. I wish First Derivatives Group continued commercial success which will benefit not just the people of Newry but everyone in the north of Ireland."

© UTV News
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