First Derivative Announces £15.3 Million AI and Fintech Hub Creating 100 Jobs Across Newry and Belfast
Global consulting firm First Derivative has unveiled a £15.3 million investment in a new artificial intelligence and fintech centre of excellence that will create 100 new high-quality jobs across its Newry headquarters and Belfast office, in one of the most significant technology investment announcements in Northern Ireland this year.
Background
First Derivative was founded in Newry in 1996 and has grown into one of Northern Ireland's most successful technology exports, building a global client base of approximately 80 banks and blue-chip financial institutions. The company, which is now owned by US-based technology group EPAM, specialises in providing consulting, technology, and managed services to the financial sector, with particular expertise in data management, regulatory compliance, and trading systems.
The firm's Newry roots have remained central to its identity despite its global expansion. Its headquarters on the Newry Business Park employs several hundred people, making it one of the largest private sector employers in the city. The Belfast office, located in the Weaving Works building on Ormeau Avenue, has grown steadily in recent years as the company has sought to tap into the capital's broader technology talent pool.
The announcement comes at a moment when Northern Ireland's technology sector is navigating a competitive global landscape for AI talent and investment. The region has positioned itself as a hub for financial technology in particular, with a cluster of firms — including Citi, Allstate, and Kainos — providing a foundation of expertise that companies like First Derivative can draw upon.
Key Developments
The £15.3 million investment will fund research and development focused on advanced AI and fintech solutions, with the new centre of excellence designed to modernise operations for the firm's global client base. Of the 100 new roles being created, 70 will be based at the Newry headquarters and 30 at the Belfast office, bringing First Derivative's total Northern Ireland workforce to approximately 600 employees.
The project has been secured against international competition with the support of Invest NI, which provided a research and development grant of approximately £3.2 million, partially funded through the UK Government's Shared Prosperity Fund. First Minister Michelle O'Neill, deputy First Minister Emma Little-Pengelly, and Economy Minister Dr Caoimhe Archibald attended the announcement, underscoring the significance of the investment to the Executive's economic strategy.
Economy Minister Archibald described the investment as "a huge vote of confidence in Northern Ireland's talent and our growing reputation as a centre for advanced technology." First Derivative chief executive Brian Healy said the new hub would allow the firm to "solve complex client challenges and improve productivity in ways that simply were not possible five years ago."
Why It Matters
The announcement is significant for several reasons beyond the headline job numbers. The concentration of 70 of the 100 new roles in Newry is particularly noteworthy at a time when economic development in Northern Ireland has tended to cluster in Belfast. Newry, as a border city with strong cross-border economic links, has long argued for greater investment in its technology and professional services sectors, and this announcement provides a meaningful boost to that case.
The focus on AI and fintech also reflects a broader shift in the nature of the jobs being created in Northern Ireland's technology sector. These are not entry-level processing roles but research and development positions requiring advanced skills in machine learning, data science, and financial systems — the kind of high-value employment that generates significant economic multiplier effects in local communities.
For context, Northern Ireland's technology sector has attracted over £1 billion in foreign direct investment over the past decade, but the pace of AI-specific investment has accelerated sharply since 2024. First Derivative's announcement adds to a growing body of evidence that the region can compete for the most sophisticated technology projects.
Local Impact
In Newry, the 70 new roles will be felt across the local economy. The city's hospitality, retail, and professional services sectors all benefit from the spending power of well-paid technology workers, and the expansion of First Derivative's presence reinforces Newry's position as a significant employment centre for the wider south Armagh and south Down area. The cross-border dimension is also relevant: many First Derivative employees commute from County Louth and other border counties, meaning the economic benefits extend into the Republic.
In Belfast, the 30 new roles at the Ormeau Avenue office add to a growing concentration of technology employment in the south of the city, an area that has seen significant investment in recent years through the development of the Titanic Quarter and the expansion of firms along the Ormeau Road corridor.
What's Next
Recruitment for the 100 new roles is expected to begin in the final quarter of 2026, with positions advertised across a range of disciplines including AI engineering, data science, financial technology consulting, and project management. The centre of excellence is expected to be fully operational by the end of 2027. First Derivative has indicated it will work with Queen's University Belfast and Ulster University to develop graduate pipeline programmes that feed into the new hub.
