PM happy with London Stock Exchange expansion in SL

Thursday, 26 May 2016 00:00 - - {{hitsCtrl.values.hits}}

PM-happy

Prime Minister Ranil Wickremesinghe with the LSEG delegation

Prime Minister Ranil Wickremesinghe has expressed delight over the London Stock Exchange Group’s (LSEG) decision to expand its investment in Sri Lanka.

“We are delighted that LSEG has chosen to expand its technology business in Sri Lanka, creating more than 400 highly skilled jobs in the region,” the Premier had said when a delegation from the LSEG called on him last week in Colombo.

“London Stock Exchange Group already employs over 700 personnel in the country and this additional commitment from the group to increase its footprint in the country, shows that Sri Lanka is fast becoming a leading provider of technology services globally,” Wickremesinghe has said, according to a statement issued by the LSEG. It announced the signing of a landmark agreement with the Government of Sri Lanka to set up their global Business Services arm in the technology-focused Tripoli Market precinct of Colombo.

London Stock Exchange Group Sri Lanka will provide Business Services support to the Group’s operating entities across the globe.

The new venture will provide the best and brightest technology talent in the country with the opportunity to be a part of an ever expanding, innovative knowledge hub.

The new LSEG facility will directly employ 400 personnel in high-technology jobs. These employees will be tasked with providing technology services that are central to the Group’s global network. LSEG’s investment and recruitment drive in Sri Lanka will also provide an immediate boost for the IT sector of the country.

LSEG is an international markets infrastructure business and a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. London Clearing House, GATElab and Exactpro are among the Group’s subsidiaries.

LSEG Group Head of Shared Services Martin Ryan said: “Given our extensive experience of working in Sri Lanka with MillenniumIT, it seemed the natural destination for our new venture, LSEG Business Services. This is an exciting opportunity for the local technology community to join a truly global organisation and we look forward to working with the Government of Sri Lanka to build a strategic partnership and a world leading technology hub in the country.”