Avaloq Group, a Swiss-based developer of banking software solutions, is reportedly planning to double its staff in Edinburgh next year.
As part of the expansion, the firm’s office at Tanfield that currently employs over 60 people plans to boost its staff to 130 in the coming year, Avaloq’s managing director Chris Zwicker told Scotland on Sunday.
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Zwicker added that the company aims to have about 500 people in Scotland however its medium-term goal is to have about 190 in this office.
The group’s founder and CEO Francisco Fernandez said Avaloq seeks to expand into Edinburgh due to the wealth of potential graduate talent available in Scotland and the number of universities offering excellent degrees in software engineering.
Zwicker said: "We mostly look for computing graduates, software engineers and analytical people who are interested in the banking business. As well as RBS’s private banking arms, the firm’s list of customers serving well-heeled clients includes Barclays Wealth, HSBC and Nomura."
"This plays into what we do, as we’re moving into the business process outsourcing (BPO) space. This is mostly for banks, but we’re also looking at external asset managers, which are a growing industry," he added.
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By GlobalDataIn November this year, Avaloq has opened a new BPO centre in Singapore.
Avaloq has opened its Edinburgh development centre in 2011 with an aim of creating 500 jobs. It employs over 1000 staff across the world.
