First Minister Carwyn Jones who met senior management at Depository Trust & Clearing Corporation (DTCC) in New York last month has welcomed today’s news that its Wrexham subsidiary Avox is to create 200 jobs.
The First Minister discussed expansion plans with the company during the meeting and made the case for the investment coming to Wales.
He said:” This is great news and I am delighted the Welsh Government has worked closely with the company on plans to expand their Wrexham base and that they aim to double staff numbers and create 200 new quality jobs in Wrexham.
“Wrexham and North East Wales offers a great location for financial and professional services with a large catchment area of qualified and dedicated people. I was pleased to highlight the opportunity for growth in Wrexham when I met the parent company during my visit to New York.”
Economy Minister Edwina Hart welcomed the news and said: “Avox provides specialist data services for banks and other financial institutions worldwide and operates in one of our priority economic sectors which is enjoying significant growth.
This is good news for Wrexham and good news for Wales.”
The Welsh Government has also supported Avox through its management apprentice programme.
Avox was formed in 2003 to provide a solution to data integrity for international banking transactions. The company was bought by Deutsche Borse and then sold to the Depository Trust and Clearing Corporation, a not for profit company jointly owned by the banking industry in the US.
Its main operational office in the UK is at Wrexham where it employs 220 people providing data cleansing and management for international finance and banking organisations.
It also has a small office a presence in London where 10 people are employed alongside another group company, DTCC Derivatives Repository Ltd. It also has representation in Boston, Tokyo, Singapore and Sydney.