The Bank of London, the next-generation technology company and the world’s first purpose-built global clearing, agency, and transaction bank, today announced its intention to expand its footprint in the United Kingdom (UK) by opening its Centre of Excellence in Belfast, Northern Ireland, creating 232 new jobs by 2026.

The bank has already welcomed 34 new colleagues – a team made up of payments leaders, software engineers, operations and other business functions – with 54 further roles already being advertised.  This is expected to generate around £20 million worth of annual salaries for the local economy when all the roles are in place.

The opening of the bank’s first UK Centre of Excellence in Belfast brings access to a strong and deep new talent pool, excellent academic institutions, and a growing technology sector. The Belfast office is an exciting opportunity to build on the successful expansion of other strategic locations and technology hubs in London and New York.

Anthony Watson, founder & group chief executive officer of The Bank of London, said: “To build the future of finance, we need to be where the future is.  Belfast is now the UK’s gateway city to the European Union, and this coupled with Belfast’s exceptional fintech talent across multiple disciplines, makes it the logical choice for The Bank of London’s Centre of Excellence to power our UK expansion.”

The Rt. Hon. Lord Mandelson PC, deputy group chairperson & senior independent non-executive director of The Bank of London, said: “During my time as Her Majesty’s Secretary of State of Northern Ireland I got to work with people from all faiths and backgrounds. The people of Northern Ireland left an indelible impression on me, and I’m delighted that our firm has selected Belfast for its Centre of Excellence”.