Belfast, alongside London, Edinburgh, and Manchester, is set to receive significant investment from several U.S. financial institutions. Bank of America has announced plans to establish its first operation in Northern Ireland, which will potentially create up to 1,000 new jobs. This announcement forms part of a broader investment initiative from U.S. companies including Citigroup, PayPal, and S&P Global, collectively worth over £1.25 billion.
The UK’s Department for Business and Trade (DBT) has indicated that the new Bank of America facility is expected to position Belfast as a key hub for financial technology and security operations. The bank will also contribute to a three-year digital skills and employability program in collaboration with Belfast Met, targeting individuals from disadvantaged backgrounds. A Bank of America representative confirmed a gradual buildup for operations in Belfast, with recruitment for initial roles commencing soon.
Bank of America’s CEO, Brian Moynihan, expressed that the new facility will enhance operational support for their global business and reaffirmed that ongoing U.S.-UK discussions around trade agreements have provided important business clarity. Notably, the DBT mentioned that the facility will feature advanced anti-money laundering systems and cybersecurity operations, creating high-skilled jobs in Northern Ireland’s growing fintech sector.
In addition to Bank of America, Citigroup has confirmed an additional £1.1 billion investment across its UK operations and intends to further develop its presence in Northern Ireland. Citigroup currently employs over 4,000 people in Belfast.
These investments are noted to reflect international confidence in Northern Ireland’s workforce and infrastructure. Local government representatives have echoed sentiments of optimism regarding the economic impacts of this inflow of U.S. investment.
Source: https://www.bbc.com/news/articles/cr4qnx0ey5ko?at_medium=RSS&at_campaign=rss