Tullett Prebon PLC New Technology Centre, Belfast Northern Ireland (9680F)
August 02 2016 - 4:08AM
UK Regulatory
TIDMTLPR
RNS Number : 9680F
Tullett Prebon PLC
02 August 2016
2 August 2016
Tullett Prebon plc ("Tullett Prebon")
New technology centre in Belfast, Northern Ireland
Tullett Prebon announces that it is establishing a new
technology centre in Belfast, Northern Ireland which will serve as
a global hub for the Group's IT operations.
Investment in technology is a key pillar of Tullett Prebon's
strategy. The new Belfast centre will provide development and
technical support for the Group's global business. It will increase
IT capacity, accelerate the introduction of new products to market,
boost innovation and improve cost efficiency.
When fully operational during 2019, Tullett Prebon expects 300
employees to be located in the Belfast centre, with initial
recruitment starting later this year.
The development is backed by the regional development agency,
Invest Northern Ireland.
Tullett Prebon will incur a net cash outflow for the set-up
costs of the Belfast centre of no more than GBP6m, of which GBP2m
will fall in the current financial year. It anticipates annual
savings of around GBP5m per annum when the centre is fully
operational. This is based solely on the current Tullett Prebon IT
footprint. The potential for savings is greater when the impact of
the acquisition of the ICAP Global Hybrid Voice Broking and
Information business is taken into account.
Commenting on today's announcement, John Phizackerley, Chief
Executive of Tullett Prebon, said:
"I am very pleased to announce the establishment of our new
technology centre in Northern Ireland. The combination of a highly
educated workforce, attractive business environment and great
infrastructure, underpinned by the support of local government and
Invest Northern Ireland, is a highly compelling proposition and
made Belfast the standout choice for us.
Our new Belfast centre will play a pivotal role in the delivery
of our global technology strategy. It will transform the way our IT
teams collaborate across our business and with outside partners,
and help the Group deliver key goals."
Ends
Enquiries:
Alexandra Wick, Marketing & Communications Director, Tullett
Prebon
Direct: +44 (0) 20 7200 7579
Craig Breheny, Brunswick Group
cbreheny@brunswickgroup.com
Direct: +44 (0) 20 7396 7429
About Tullett Prebon:
Tullett Prebon (www.tullettprebon.com) is one of the world's
leading interdealer brokers and operates as an intermediary in
wholesale financial markets facilitating the trading activities of
its clients in seven major product groups: Energy &
Commodities, Rates, Volatility, Treasury, Non-Banking, Credit and
Equities.
With offices in 24 countries, Tullett Prebon operates voice,
hybrid, electronic, volume matching, algorithmic matching and risk
mitigation platforms, to accommodate the needs of its clients, and
to satisfy the regulatory driven evolution of the marketplace. In
addition to its brokerage services, Tullett Prebon offers a variety
of market information services through its IDB Market Data
division, Tullett Prebon Information.
Tullett Prebon has its principal offices in London, New Jersey,
Hong Kong, Singapore and Tokyo, with other offices, joint ventures
and affiliates in Bangkok, Connecticut Dubai, Frankfurt, Geneva,
Houston, Jakarta, Johannesburg, Luxembourg, Madrid, Manama, Manila,
Mexico City, Mumbai, New York, Paris, São Paulo, Seoul, Shanghai,
Sydney, Toronto, Vienna and Warsaw.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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