Ireland Finds Answer to Labour Shortages.

BOSTON -- A fresh supply of recently qualified fund accountants are being cited as the reason why many large Financial services companies are relocating their operations to Belfast, and other areas in Northern Ireland. The fastest growing financial services sector- which currently employs almost 20,000 people recognises the importance of a pool of skilled labour in supporting this continued success.

The future of financial services has been given a powerful boost in the form of an educational initiative between the Securities & Investment Institute (SII) and the Belfast Institute of Further & Higher Education (BIFHE).

SII and BIFHE have agreed to deliver and teach the Investment Administration Qualification (IAQ) for the first time ever in Northern Ireland.

Companies such as Citigroup, Allstate insurance and Liberty Mutual, have already located substantial operations in Northern Ireland, will benefit from this qualification and future investment.

The IAQ is widely acknowledged as the most appropriate qualification for staff involved in financial services administration and operations. Its arrival in Northern Ireland is an exciting development for students looking to enhance their career prospects in the sector.

The qualification which is available in many countries including India is now available in the USA demonstrating the true portability of this benchmark qualification.

The SII has 100 members in Northern Ireland and the IAQ will not only enhance skill sets within the industry, but will also create a supply of talent for future expansion. NI members will be able to take advantage of the SII new Continuing Professional Development (CPD) scheme which will enable them to demonstrate their ongoing commitment to CPD to both their employer and the relevant regulator.

Simon Culhane, Chief Executive of the SII said, "We live in times of rapid technological, social and political change and the SII believes it must provide its members with the knowledge and skills they need for the duration of their careers, beyond their existing qualifications. Those Northern Irish candidates who sit the IAQ will be better positioned to gain a marketing advantage from their CPD involvement by demonstrating their commitment to high quality services and ongoing learning."

Welcoming the arrival of IAQ in Northern Ireland Jeremy Fitch, Invest NI Director - Clients and Business International said: "Local provision of the IAQ is an important element in our drive to establish Northern Ireland as the preferred investment location for international financial services companies. Northern Ireland has already secured big name financial services firms such as Citigroup, HBOS, Allstate & Liberty Mutual and our local businesses such as First Derivatives and Harco are pioneering new technologies for the industry.

"The IAQ's arrival has the potential to further enhance the skills set of NI's highly educated, highly skilled and young labour force. Considering people are the key driver in international investment location decisions, this is a significant development."

FOR FURTHER INFORMATION:

For further information on the Securities & Investment Institute contact Lora Benson, Press Officer, on [phone] or [e-mail]

For further information on Invest Northern Ireland contact Lisa Murray at Invest NI on 1-617 425-5510 or [e-mail]

ABOUT SII

The Securities & Investment Institute (www.sii.org.uk) was formed in 1992 by members of the London Stock Exchange. Its mission is to set standards of professional excellence and integrity for the securities and investment industry, providing qualifications and promoting the highest level of competence to its members, firms and others.

The Securities & Investment Institute is now the pre-eminent professional body for those who work in the securities and investment industry in the UK. Over 17,500 members benefit from a programme of professional training and development. The Institute is the principal awarding body for industry qualifications and last year its examinations attracted 35,000 candidates.

The Securities & Investment Institute is also a registered charity.

Charitable Objectives:

--to promote for the public benefit, the advancement and dissemination of knowledge in the field of securities and investments

--to develop high ethical standards for practitioners in securities and investments and to promote such standards in the UK and overseas.

--to act as an authoritative body for the purpose of consultation and research in matters of education or public interest concerning investment in securities

ABOUT INVEST NI

About Invest Northern Ireland

The financial services sector in Northern Ireland is booming and has grown by 35% over the last 5 years. This growth is a tribute to Northern Ireland's availability of high quality people with skills relevant to the financial services technology and fund accounting operations.

Invest Northern Ireland is the government agency responsible for economic development in the region. The organisation works with financial service firms to create sustainable nearshore business model supporting their clients and their business.

www.investni.com