The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62.09 - Other information technology and computer service activities
484 jobs Number of planned job creations
Announcement Date
30 June 2014
Employment effect (start)
Foreseen end date
Description
First Derivatives is a financial technology firm based in Newry, Northern Ireland and one of only two companies listed on the stock market in Northern Ireland. The company has announced the creation of 484 new jobs as it continues to expand its business. The size of the current workforce is around 900 people, most of whom are located in Newry.
The firm also has a presence in three other countries - the United States of America (with an office in New York), China (with an office in Shanghai) and Australia (with an office in Sydney). The firm develops specialised software for the finance industry that is used by investment banks across the globe. Consultancy services are also provided by the firm.
The expansion was made possible, in part, by an injection of £3.9 million from Invest NI, with Northern Ireland's First Minister reported saying that the creation of the 484 new jobs would bring an additional £22 million each year to the local economy. First Derivatives was established in 1996 at at the time of listing on the stock exchange in 2002, it had 26 employees. For a previously announced expansion plan see First Derivatives-UK2009.
Sources
30 June 2014: BBC News Northern Ireland (www.bbc.co.uk)
Citation
Eurofound (2014), First Derivatives, Business expansion in United Kingdom, factsheet number 77282, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77282.
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