Newspaper for Crossmaglen, South Armagh, Newry and Down.

Huge jobs boost for Newry as First Derivatives announces 1,000 new roles

Newry has been given another jobs boost following the announcement that financial technology giant First Derivatives plans to recruit 1,000 additional staff over the next three years. 

The company already employs 2,400 people across Northern Ireland and abroad, with a new centre just opened in the heart of Newry on Satruday. The new recruits will facilitate the continued rapid growth of the multinational software and consulting company, whose employee numbers have increased at an average annual rate of 31% over the past three years.

The news comes just days after Newry based performance data experts, STATSports, announced the creation of 237 new jobs over the next three years as part of the company’s plans to build on its global success. 

First Derivatives has confirmed that a significant number of the global roles will be based in Northern Ireland and will be across graduate, experienced and senior levels throughout the company’s operations, including FinTech, where FD works with many of the world’s leading financial institutions. 

Senior vice president of marketing and operations at First Derivatives, Shane Mulholland, said the latest expansion “follows a trajectory” the company has been on fuelled by a greater demand for its software services 

“We’re just really excited about where the business is headed and we’re very confident in making that statement (1,000 jobs). We recognise it’s a big statement and a big number, but it’s very positive news for the business and we’re fully looking forward to delivering on that,” added Mr Mulholland.

He confirmed a “significant” number of the new recruits will be based in First Derivatives “epicentre”, Newry, and revealed that 185 staff members had moved into the company’s newly-opened secondary office on Hill Street over the weekend.

“We aren’t moving from Newry, Newry is our epicentre and we will continue to grow it. We’re very comfortable that Newry is and will be the complete centre of our operation going forward,” he added

First Derivatives CEO, Brian Conlon said he is looking forward to welcoming the new staff to the company.

“This is an exciting time for First Derivatives and this expansion reflects the strong growth and development of the company. We have a highly skilled and accomplished team, and we look forward to bringing on more talent.”

Donal Keane, senior vice president of vendor services at the firm, said all new recruits will be coming to Newry during training periods for between three month and a year.

“These new jobs are for graduate, experienced and senior level. Our graduate level is typically in the low to mid £20,000 and that rises based on experience,” explained Mr Keane.

“We have a strong pipeline of work, so this is really based on the confidence we have in our business as we move forward in the next three years.

Newry & Armagh Sinn Féin MLA Conor Murphy said news of the jobs boost was very much welcome.

“First Derivatives is one of Newry’s major success stories with staff working in every major financial market in the world.

“The work ethic demonstrated by First Derivatives is fantastic and I hope that many young people from this area find inspiration in this company’s success,” said Mr Murphy, who added that the opening of the firm’s second office in Newry “is further evidence of the commitment to Newry by this local company.”

Last year First Derivatives, which is valued at more than £1bn, made pre-tax profits of £12.1m on revenues of £186m.