Invest NI Chief Executive Alistair Hamilton (left) with the CEO of Fintru Darragh McCarthy on the major jobs boost for Derry
FinTrU provides support services, including compliance and risk management, to major banks.
The firm currently employs about 240 staff at its headquarters in Belfast.
The company is creating 305 jobs in Derry, making it one of the city’s biggest inward investments in the last five years.
The project will be supported by government grants of £5.6m.
FinTrU was founded by Cork man Darragh McCarthy just five years ago.
The former investment banker made Belfast the headquarters of the business and it has grown rapidly.
He said he had “no hesitation” about expanding into the north west describing it as a “highly attractive location” with an availability of talent.
The company will work with Belfast Met and North West Regional College to establish a graduate-training scheme.
The CEO said: “Our current operation in Belfast has been hugely successful which has been driven by the exceptional talent we have been able to recruit in Northern Ireland.
“FinTrU has won two ‘Fast Growth Business of the Year’ awards in 2018 and we are delighted to continue our expansion in other areas of Northern Ireland.
“After reviewing a number of locations, I had no hesitation about expanding our presence into the North West due to the highly attractive location and the availability of talent that the region offers.
“Whilst managed as a profit-driven organisation, I see FinTrU as having a social purpose to create high-quality professional employment in Northern Ireland.”
Darragh, who is a finalist in this year’s EY Entrepreneur of the Year Awards, added: “Our partnership over the last few years with Invest NI has been invaluable to our growth.
“We are also working with the Department for the Economy through its Assured Skills Programme, Belfast Metropolitan College and the North West Regional College to establish a Graduate Academy which will result in a considerable investment in training for our new employees.”
Invest NI chief executive Alistair Hamilton described the project as a “significant reinvestment” which was worth £38m.
“The company will create 305 of the new jobs in Derry which is a great endorsement of the wealth of talent in the North West.
“This investment will also make a significant contribution to Northern Ireland’s flourishing Financial Services sector and will deliver a projected £20million in additional new export sales for the company.” continued Alastair.
“We are delighted to have played such a significant role in the company’s rapid growth,” added Mr Hamilton.
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