The London Stock Exchange Group (LSEG), one of the world’s biggest capital market operators, is setting up a new business services centre in Bucharest. The new centre will employ personnel within the group’s shared services company, Business Services Ltd (BSL). BSL currently delivers technology, data services and corporate support functions across the group’s global operating entities.
LSEG has secured office premises located within the central-west area of Bucharest, near the Polytechnic University. The new LSEG facility will initially employ 200 personnel across a range of roles and complements BSL’s existing operations in Colombo, Sri Lanka, which employs 480 people.
Murali Subrahmanyam, Head of LSEG Business Services (pictured) said: “We are pleased to announce the opening of a new shared services centre in Romania. Through the development of strategic operational hubs within appropriate time zones and geographic regions, we are well placed to deliver services and support to our global operating entities.”
“Romania offers LSEG a highly skilled workforce, a strong education system and good infrastructure. We have been delighted by the warm reception that we have received from the Government of Romania, Invest Romania Agency and the local business community. We look forward to being an employer in Romania and contributing to the further development of capital markets skills in the country to support its future growth.”
Stefan-Radu Oprea, Minister for Business Environment, Trade and Entrepreneurship said: “We are delighted that London Stock Exchange Group has chosen Romania as a location for one of its strategic operational hubs, creating more than 200 skilled jobs in Bucharest. The long-term commitment to our country also reinforces the development of Romania’s capital markets capabilities.”
Adecco, the largest temp staffing firm in the world, which handles the recruitment process, has already announced the first open positions. LSEG is looking to hire IT specialists such as system administrator, web software developer, senior data base administrator and C# developer.
"We are looking for intellectually curious people interested in how the technology industry is evolving, who are ready to face difficult questions and manage complicated scenarios," the LSEG recruitment message says.
Among the benefits promised by the British are a Pillar III voluntary pension, 25 days of annual leave, private medical insurance, life insurance and meal vouchers.
In December 2017, the then Minister for Business Environment, Trade and Entrepreneurship, Ilan Laufer, told Antena 3 news station that London Stock Exchange was looking to relocate one of its divisions to Bucharest and that he directly negotiated the move with the group’s representatives.
In January 2018, the move was confirmed by sources on the real estate and financial consultancy market.
Some of the biggest companies listed on the Bucharest Stock Exchange, such as the natural gas producer Romgaz, electricity distributor Electrica, and investment fund Property Fund (Fondul Proprietatea), are also listed on the London Stock Exchange (LSE).
LSE is one of the world’s oldest stock exchanges and can trace its history back more than 300 years. The London Stock Exchange Group was created in October 2007 when LSE merged with Milan Stock Exchange, Borsa Italiana. In July 2012, the LSE bought a 5% stake in Delhi Stock Exchange. Headquartered in London, with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 4,700 people and has yearly revenues of GBP 2 billion.