Chicago-based fintech firm Spiderrock to create 20 jobs in engineering development team at new Belfast office

By Rebecca Black, PA
Published 27th Jan 2025, 00:01 BST
Economy Minister Conor Murphy (right) with SpiderRock executives during a trade mission to Chicago last year. He is pictured with George Papa, SpiderRock CEO, Annabelle Baldwin, SpiderRock chief revenue officer, Andrea Haughian, Invest NI's Head of Americas, and Julianne Cox, FDI Business Development Director at Invest NIEconomy Minister Conor Murphy (right) with SpiderRock executives during a trade mission to Chicago last year. He is pictured with George Papa, SpiderRock CEO, Annabelle Baldwin, SpiderRock chief revenue officer, Andrea Haughian, Invest NI's Head of Americas, and Julianne Cox, FDI Business Development Director at Invest NI
Economy Minister Conor Murphy (right) with SpiderRock executives during a trade mission to Chicago last year. He is pictured with George Papa, SpiderRock CEO, Annabelle Baldwin, SpiderRock chief revenue officer, Andrea Haughian, Invest NI's Head of Americas, and Julianne Cox, FDI Business Development Director at Invest NI

Economy Minister Conor Murphy has welcomed the move by SpiderRock, which is based in Chicago.

He said the office based at the Pearl Assurance Building in Belfast is its first investment in Northern Ireland, and described its work as delivering high-performance, cloud-based trading systems and low-latency market data solutions to clients globally, including hedge funds, bank trading desks, and proprietary trading firms.

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“This investment by such a prestigious company is testament to the international stature of the North's thriving fintech sector,” he said.

“Invest NI and I met SpiderRock's leadership team in Chicago last year to discuss the benefits of investing in the North.

“I'm delighted the company has now decided to create 20 new positions offering average salaries of £55,000, almost double the private sector median.

“The hybrid nature of the roles mean they will be accessible to people right across the region.”

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George Papa, chief executive of SpiderRock, said they have been impressed with the talent and expertise available in Northern Ireland, as well as the strong partnerships with universities and support from Invest NI.

“Our Northern Ireland team will play a critical role in supporting our trading platform, extending operational coverage during non-US hours, and enabling our expansion into European markets,” he said.

“Recruitment efforts are progressing rapidly, and we're thrilled to have already filled almost half of the planned roles.

“This investment marks a significant milestone for SpiderRock as we grow our presence in Europe, build our brand, and deliver innovative solutions to new markets.”

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Invest NI helped to secure the investment for Northern Ireland and has offered support towards the 20 roles.

Andrea Haughian, Invest NI's head of Americas, added: “SpiderRock's decision to establish operations in Northern Ireland highlights the region's growing reputation as a fintech hub, offering a skilled workforce and a competitive business environment.”

Related topics:Conor MurphyInvest NINorthern IrelandBelfastChicago
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