BELFAST, LONDON and NEW YORK, Aug. 17, 2022 /PRNewswire/ — The Bank of London, the world’s first purpose-built global clearing, agency, and transaction bank, today welcomed Economy Minister Gordon Lyons MLA to mark the opening of its new Northern Ireland Headquarters, based in the landmark Soloist office at Lanyon Place in Belfast.
During his visit, the Minister heard how the Bank has seen recruitment in Belfast surge ahead of initial projections. Around 50 employees are already in role including software engineers, and compliance and risk experts, with further recruitment due to take place. The Bank of London’s investment in Northern Ireland will lead to the creation of 232 jobs, 130 of which have been supported by Invest Northern Ireland (Invest NI).
Given the importance Northern Ireland now plays to the wider Bank of London group, Stephen Bell, Chief Risk and Compliance Officer (United Kingdom) will expand his remit with his new appointment as Country Head for Northern Ireland. A senior financial services leader with a broad range of experience in commercial leadership, enterprise risk management, corporate governance, and restructuring, Stephen served on the Board of Ulster Bank in Northern Ireland from 2012 to 2015, also holding the roles of Chief Risk Officer for both Northern Ireland and the Republic of Ireland.
Stephen Bell, Country Head for Northern Ireland, said: “At The Bank of London we have a deep belief that exceptional and diverse talent will build the future of banking. Working together with Invest NI, we chose to locate The Bank of London’s first United Kingdom office outside of London here in Belfast. We know we will find that talent here to help us deliver innovation at the heart of financial services and create the borderless infrastructure of the future.
“Our experience to date has proved this to be the right decision and the speed at which we have been able to recruit across a range of skills and experience, not only in technology but in compliance and risk, is testament to our commitment to ongoing investment in Northern Ireland and the wider economy.”
Gordon Lyons MLA, Economy Minister, said: “The Bank of London is only the sixth UK clearing bank and the second in over 250 years to be authorised by the Bank of England, it is therefore quite a coup for Invest NI to have attracted this unique project and investment here.
“There’s the saying that actions speak louder than words. We often talk of how much Northern Ireland has to offer as an investment location but securing one-of-a-kind projects like this prove it. Added to that, The Bank has had immediate success at recruiting over a third of its positions in just a handful of months, which is evidence again of just how right their decision to invest here was.”
Whilst next-generation patented technologies powers The Bank of London’s unique proposition, two thirds of the positions being created are in operations and compliance, with the remaining one third technology related roles. The new positions span a range of experience levels from junior to senior management, providing opportunities at all levels.
Mel Chittock, Interim CEO, Invest NI, said: “The Bank of London is a welcome addition to Northern Ireland’s financial services sector. Its disruptor approach will bring new innovation to our fintech sector, providing new opportunities across a diverse range of roles in financial services which will help retain talent here and attract others to return to Northern Ireland.
“With well-remunerated roles, this project will not only deliver excellent job opportunities but will also contribute £7.8m in annual salaries into our local economy, delivering economic benefit to the whole of Northern Ireland.”
People interested in a role at The Bank of London should visit https://thebankoflondon.com/join-us
About The Bank of London
The Bank of London launched 30thNovember 2021 as the sixth principal clearing bank of the United Kingdom, and only the second clearing bank in 250 years. With a $1.1 billion valuation, it is the first pre-revenue bank in history to attain ‘unicorn’ status upon debut.
The Bank of London is a leading-edge technology company and the world’s first purpose-built global clearing, agency, and transaction bank. We leverage our patented technology innovations and differentiated bank capabilities to lift economies and communities by powering the borderless economic infrastructure of the future.
The bank has been established to assist banks, clearing houses, digital & traditional asset firms, governments, financial services companies from local fintechs to global institutions, payment networks and non-financial brands seeking to launch fully compliant financial products and services in-country and across-borders.
With headquarters in London and offices in New York, Charlotte (North Carolina), and Belfast, The Bank of London is a principal clearing bank of the United Kingdom authorised by the Bank of England’s Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority.
For more information visit: thebankoflondon.com, or on Twitter and Instagram at: @thebankoflondon.
SOURCE The Bank of London