Citigroup brings together banking, insurance, and investments under one umbrella, employing 275,000 and managing 200 million customer accounts across six continents in more than 100 countries.

As well as creating high value jobs the investment will introduce new investment banking technology and skills to Northern Ireland strengthening the region’s attraction for other potential inward investors.

Invest Northern Ireland will contribute over £7.6 million towards the investment.

Leslie Morrison, chief executive of Invest NI, described the investment as “a significant affirmation of Northern Ireland’s capability. The establishment of a technology centre of excellence fits very well with Invest Northern Ireland’s focus on developing the software and financial services sectors and encouraging R&D and application development activities.

“We hope it will act as a catalyst to stimulate further growth in this specialist sector, which has already attracted global brands such as Liberty IT and Northbrook, to Northern Ireland.”

Maggie Stanfield is a highly experienced journalist with a superb knowledge of business issues across many sectors. She writes extensively in publications across the globe and runs her own company. See http://www.writtenwords.co.uk.