First Derivatives to hire 400 graduates
Fintech company First Derivatives is to take on 400 graduate recruits this year and has also reported a 30% increase in revenues for the year of £151.7 million. The company also reported a profit of £12.5 million, up 20% on last year.
First Derivatives employs 1,750 people worldwide at offices in Newry, London, New York, Stockholm and Dublin. The intake of 400 graduates is up from 300 last year. Last year, the company acquired QuantumKDB, the London-based big data company of Irishman Kieran Lucid, for £2.2 million. This follows previous acquisitions of Prelytix, ActivateClients and Affinity Systems.
The company provides software, consulting and analytics products and services to the financial sector and counts 19 out of 20 of the world’s biggest investment banks as customers. “During the year we made strong progress on our strategic objectives, while delivering a solid financial performance,” said First Derivatives chairman Seamus Keating.
“Our increasing scale is leading to larger and longer-term managed services and consulting engagements and we are confident this trend will continue as we develop our service capabilities.
“Demand for the ultra-high analytics processing that Kx delivers continues to grow and this is reflected in a strong pipeline of opportunities across the business.
“It is clear that the leading performance that Kx delivers in capital markets readily transfers to other end markets, as evidenced by our growth in digital marketing. We are engaged in numerous discussions across industries and believe our products and services are well placed competitively. Consequently, we anticipate another year of strong growth,” Keating said.