Newry.ie

"At the moment Australian financial markets are regulated by software produced in this building" With one short line First Derivatives CEO Brian Conlon puts into perspective the global reach of a home grown business in the small city of Newry on the globally small island of Ireland.

Brian Conlon, CEO, First Derivatives. Photograph: Columba O'Hare
Brian Conlon, CEO, First Derivatives. Photograph: Columba O'Hare

Brian was joined today by First Minister Peter Robinson and Deputy First Minister Martin McGuinness along with local business people and politicians at First Derivatives Headquarters at Canal Quay in Newry to announce 484 new jobs for the city made possible by an offer of £3.9 Million from Invest NI.

The increase in headcount will enable First Derivatives to continue the expansion of its software and consulting business. This sustained growth ability is possible due to its range of business propositions like its innovative Near Shore services that have proven popular with customers who see the joint benefits of reduced cost and swift access to high calibre capital market consultants that traditional outsourcing methods often fail to provide.

Speaking at the announcement First Derivatives CEO Brian Conlon said "This is a good news story for Newry, It's 484 jobs. We have to create these jobs, these jobs aren't replacing jobs elsewhere. The fact that we can create 484 jobs, that makes me very proud that we are making a difference to our community and making a contribution to our local economy.

"We operate on a global scale we have offices throughout the world but those offices are primarily driven by people from this part of the world. We have people working is Singapore, Toronto, Johannesburg, Dubai, any financial centre you care to name but the journey always starts here, it starts in Newry!

"We have people here supporting banks all over the world from Newry, from this building. One example, one of the biggest investment banks in the world, Morgan Stanley have 35 people in this office.

Pictured at the announcement of nearly 500 new jobs for Newry are from left: Daire Hughes, Mayor, Newry and Mourne District Council; Martin McGuinness, Deputy First Minister; Kevin Cunningham, First Derivatives Board Member and MRP Managing Director; Brian Conlon, CEO, First Derivatives and Peter Robinson, First Minister. Photograph: Columba O'Hare
Pictured at the announcement of nearly 500 new jobs for Newry are from left: Daire Hughes, Mayor, Newry and Mourne District Council; Martin McGuinness, Deputy First Minister; Kevin Cunningham, First Derivatives Board Member and MRP Managing Director; Brian Conlon, CEO, First Derivatives and Peter Robinson, First Minister. Photograph: Columba O'Hare

"Four or five years ago we started developing our own software and the sort of things we do now is absolutely amazing. At the moment the Australian financial markets are regulated by software produced in this building, so if someone is trying to pump the mining stock, if there is some spoofing going on in the Australian markets, the software to identify those problems was built here

"When I go abroad now I don't talk about Newry I talk about 'Silicon Canal' Newry is the heartbeat of the company. We are proud of being from here and we are proud of the fact that we are able to contribute to the local economy and create these jobs. The reason why we are here is because, it's the quality of the local education system, We can get people with background in mathematics, we take them here, we train them, but it's their personality and the attitude which sets us apart."

Concluding Brian added "I'd like to thank Invest NI. The money we receive from Invest NI is absolutely crucial in creating these jobs. Without that money this would not happen. Some of the softer things that Invest NI provide around the world in terms of support in the far flung regions where we don't have a presence, so we go on trade missions with them, their people in the far flung outreaches help us establish links on the ground and we have a lot to thank Invest NI for in terms of our global expansion."

Brian also acknowledged the support provided over the years from local politicians and Enterprise Agencies.

Deputy First Minister, Martin McGuinness chats to Brian Conlon, CEO, First Derivatives at the job announcement. Photograph: Columba O'Hare
Deputy First Minister, Martin McGuinness chats to Brian Conlon, CEO, First Derivatives at the job announcement. Photograph: Columba O'Hare

Speaking at the announcement First Minister Peter Robinson said "The announcement today of 365 additional jobs at First Derivitives and 119 jobs at MRP is a fantastic good news story for Northern Ireland but especially for the company and for the city here in Newry, so my congratulations to Brian and to Kevin, to the whole team that there is here at First Derivatives and MRP, for the work that they've been doing and it can only be done on the back of the success of those who are already in the positions here in First Derivatives and those who are working in MRP. You don't get more jobs, you don't grow, unless the work that you are doing is of the standard that is required, and amongst the people who are the clients of First Derivatives. We are enormously supportive of what you are doing."

First Minister Peter Robinson is interviewed outside the First Derivatives HQ. Photograph: Columba O'Hare
First Minister Peter Robinson is interviewed outside the First Derivatives HQ. Photograph: Columba O'Hare

Deputy First Minister Martin McGuinness added "This is a tremendous news story for Newry. I have always maintained that what is absolutely key also to ensuring that we continue to reduce the unemployment levels that are unacceptably high, is the contribution made by our own indigenous businesses and this is an example of an indigenous business which has a global reach and that is down to the intelligence, the determination and the commitment of people like Brian and Kevin and the workforce to putting this company and the subsidiary MRP effectively on the world stage.

"They are now on the world stage, providing vitally important financial services for companies and banks and others all over the world, and thats incredible given that Newry is such a small place. This isn't Belfast, this is a place somewhat removed from what is happening there."

Concluding Deputy First Minister McGuinness said "A great day for Newry, a great day for the whole of Ireland giving the contribution that this company had made to putting all of us effectively right up there with the best in the world. Well done."

Welcoming the new jobs, Enterprise, Trade and Investment Minister Arlene Foster said: “One of Invest NI’s key objectives is to support the creation of high value jobs with salaries above the Northern Ireland average, such as those being created by First Derivatives today, as these will ultimately help to rebuild and rebalance our economy.”

Concluding the proceedings Kevin Cunningham, First Derivatives Board Member and Managing Director of  MRP (Market Resource Partners) a subsidiary of First Derivatives commented "From this office, from Northern Ireland we have operations here  that allow us to provide marketing services for global tech companies like Cisco, Dell, HP in over 50 countries and 15 plus languages. It's pretty amazing from this little town."

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