Tullett Prebon, one of the world’s leading interdealer brokers, is launching a new global technology hub in Belfast, Northern Ireland, which will help bring upwards of 300 new jobs to the facility, part of the group’s latest expansion into the region, per a company statement.
The opening of a new technology hub in Belfast comes at an interesting time, namely in the aftermath and uncertainty wrought by the Brexit referendum back in June. With the future of the UK in a state of flux, and with it several regional and passporting issues likely to face a revisit, the decision to expand in Northern Ireland bears closer examination.
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Tullett Prebon’s new facility expects to see 300 new jobs, which will primarily focus on development and technical support for the group’s global business. In addition, the new office will be backed by Invest Northern Ireland, which is slated to provide support and assistance to help attract and develop employees – the new office is not expected to become operational until 2019.
Despite this lag, Tullett Prebon’s Chief John Phizackerley has already laid out the framework for recruitment of the new Belfast facility, which will begin later this year. According to Mr. Phizackerley in a statement on the new office: “Belfast was the standout choice of location for us. The combination of a highly educated workforce, attractive business environment and great infrastructure, underpinned by the support of local government and Invest Northern Ireland is a compelling proposition for a global financial services group such as ours.”
Tullett Prebon made headlines recently after it entered into an agreement with Intercontinental Exchange (NYSE: ICE), a global network of exchanges and clearing houses, to acquire certain U.S. voice brokerage operations of Creditex last month.