Business

First Derivatives expands its presence in Dublin with new city centre hub

Cutting the ribbon at George’s Quay (L-R): Pat Brazel, chief commercial officer; Julie Conlon; Kathy Kearns; Ciaran Conlon; and John Murphy, senior vice president for innovation, Dublin
Ryan McAleer

FIRST Derivatives has opened a new 8,000 sq ft office in the centre of Dublin with plans to expand its workforce in the city.

The Newy-based fintech company said the new premises at George's Quay follows significant growth across the group in the Dublin market in recent years.

In a statement yesterday, First Derivatives described the move as a major expansion of its operation south of the border.

Earlier this month the company announced an 11 per cent growth in half-year sales £111.7 million, producing a pre-tax profit of £8.4m.

The fintech firm said it has the option to expand its new Dublin hub as it rolls out its ongoing growth plan. Last year First Derivatives announced plans to create 1,000 jobs over three years. It will take its global workforce, which currently stands at 2,500, to 3,400 by 2021.

The firm is currently spread across 15 global locations.

The company said it has seen a sharp rise in demand for its consultancy services in Dublin, in particular in the areas of risk management, regulatory and compliance, and treasury management.

First Derivatives also said that the new premises will facilitate the growth in the Kx side of the business. The Newry firm bought out the remaining shares in the data analysis software provider last year.

The company has yet to announce a replacement for chief executive Brian Conlon, who passed away in July at the age of 53.

Speaking in Dublin yesterday, First Derivatives' executive chairman Seamus Keating said: “We are delighted that the strategic vision of our founder and former CEO, the late Brian Conlon, to grow our presence in the local market is being realised through the recent award of a number of new delivery projects and the addition of a number of new banks to our existing blue-chip client list.

“The new office space at George's Quay provides us with a suitably impressive platform for both our staff and clients as we enter the next exciting phase of expansion within the Irish market.”

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