Financial services firm to create 400 jobs in Derry

Derry City Mayor, Councillor Shaun Gallagher has announced that Homeloan Management, a Yorkshire-based financial services firm, is set to create 400 jobs in the city, with a £9.5 million investment in a mortgage servicing operation.

Homeloan Management (HML) processes mortgages on behalf of some of the UK’s largest building societies and its UK-based mortgages processing centre is to be based at the Ulster Science and Technology Park in Derry. The centre is initially expected to be a call centre operation, which will be followed by the introduction of back office mortgage servicing abilities.

Steve Haggerty, HML’s Managing Director, outlined the company’s reasons for choosing to locate in Derry: “Londonderry is an excellent choice for us. High quality office space is available. Even more important, there is a highly educated and talented local labour force who speak our customers’ language and understand the business environment in this country. It also gives us a perfect location on the edge of the eurozone to build our business outside the UK, in particular the Republic of Ireland.”

Councillor Gallagher congratulated HML on their decision to locate their centre in the city. He said: “HML’s decision is a clear endorsement of Derry’s ability to attract jobs to the North West. I want to congratulate all of those involved in working with HML to bring this investment to the City, particularly the staff of Invest Northern Ireland. Derry City Council, through its Economic Development Section, will continue to work closely with Invest Northern Ireland to make HML’s establishment here as smooth as possible. In recent months the city’s economy has seen many setbacks and today’s announcement is a new departure for the local economy and one that signals employment opportunities in a growth sector.”

Ian Pearson, the Minister with responsibility for Enterprise, Trade and Investment also welcomed HML’s decision. He said: “This investment is a tremendous start to 2004 for Londonderry and for Northern Ireland. As well as creating high value quality jobs for the excellent local labour force, it will provide additional financial services skills, which will contribute to the further development of a financial services cluster in the north-west.”

(KMcA)