FinTru founder targets 1,000 staff

A BELFAST financial firm is aiming to grow into a global outsourcing giant employing 1,000 staff — five times the size of its current workforce.

FinTru founder and CEO Darragh McCarthy (44) said his company has doubled its workforce each year since it was formed in 2014.

In an exclusive interview, the former Morgan Stanley banker and Cork native said he could “easily see us being a thousand people plus” company.

“The way we are going. We are running at 100pc capacity.”

FinTru provides outsourcing for some of the world’s biggest investment banks.

In 2014, the company announced it was going to create 80 jobs in three years.

But three years later, that number is set to soon break through the 200 barrier.

The company has been heavily recruiting through its academy scheme, which is run alongside the North’s Department for the Economy.

Belfast offers a high-skill, low-cost base, with staff working in outsourcing across a range of areas, from regulation to legal services.

“FinTru’s strapline, is that we provide high quality, cost-effective, near-shore outsourcing for financial services,” Mr McCarthy said.

“Our clients are investment banks.

“Post the crisis, the investment banking model has been challenged, both on a revenue and a cost front.”

Banks either have a choice to hire ‘on-shore’ consultants, working in Britain in the City of London and on high wages, or outsourcing to locations, such as India and the Philippines.