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London Stock Exchange Group inaugurated Bucharest business services centre

posted onFebruary 1, 2019
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The London Stock Exchange Group (LSEG), one of the world’s biggest capital market operators, inaugurated today its business services centre in Bucharest, marking one of the most important British investments in Romania. 

LSEG selected the Romanian capital at the beginning of 2018 for setting up the new technology and operations hub which will play a key role in providing services to the Group and to its clients across the world. 

According to National Trade Register Office of Romania data, LSEG sent in November 50 million lei to local company LSEG Business Services RM, a subsidiary established in the context of opening a local service centre for the British group. 

The new operational centre will focus on:

  • Web services (software development, system administration, maintenance and operational support for LSEG web platforms)
  • Corporate Services (corporate system administration and corporate application support for  Windows, Citrix and Red HAT-based platforms)
  • Market Services (application support, system administration and database services engineering for LSEG markets)
  • Post Trade Services (including software development and DevOps)

The group started recruiting for this centre in May 2018 and aims to reach 500 employees.

“I am happy that Bucharest will host the new service centre that will provide jobs for 500 Romanians. The UK’s prosperity was entirely built on free economic exchange. After leaving the EU, the UK is determined to promote free trade and create new relations with its partners, Romania included. Our countries have a history of trade since the sixteenth century. More than 5,000 British companies have invested almost 1.5 billion euro in the Romanian economy and Romania is sending valuable goods to the UK such as Dacia or Ford cars, " Britain's Foreign Minister Jeremy Hunt said at the official opening.

The centre is located in Campus 6, a new office complex developed by Swedish project development and construction group Skanska in the Central-West area of Bucharest, in the proximity of University Politehnica. LSEG has leased 3,000 sqm of offices, according to sources on the local real estate and financial consultancy market. 

In his turn, David Schwimmer, CEO at the LSEG  said:

“Our decision to open the hub in Bucharest reflects the qualities that Romania provides –namely high level labour force, a solid education system, good infrastructure – which make Romania a first class destination for investment.” 

The event was also attended by Romania's Minister for the Business, Trade and Entrepreneurship Environment Radu Oprea, and Deputy Prime Minister Ana Birchall. 

“Each implemented investment, each opening means contributions to the budget and new jobs for our country’s citizens, therefore I would like to express my appreciation for London Stock Exchange Group and their decision to invest in Romania,” Birchall said.