Avox Limited, which plans to double its workforce in Wrexham by the end of 2016, will be creating seventy new jobs ahead of schedule with support from the Welsh Government.
Earlier this year the company, a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC), announced plans to double staff numbers at its headquarters in Wales by the end of 2016, creating more than 200 jobs within two years.
On a visit to the company today (Tuesday April 29 ) Economy Minister Edwina Hart announced the expansion is being supported by £160,000 from the Wales Economic Growth Fund which will speed up job creation ensuring that seventy of the new posts will be created within months.
The Minister said: “Avox has a client base that is spread across the world, working with 40 global investment banks. This expansion is yet another example that proves Wales is a great location for financial services companies to thrive.
“It also illustrates DTCC’s on-going commitment to continue to grow and invest in the business in Wrexham and I am delighted the Welsh Government is supporting this important investment.
“Welsh Government support will ensure that a high percentage of those new jobs will be created in Wrexham within a matter of months rather than years, providing an immediate boost for the local economy in terms of jobs and salaries.”
Paul Barlow, Chief Operating Officer of Avox Limited, said, “We have had our operations centre in Wrexham for over 10 years and, together with our parent company DTCC, we are pleased to be creating a significant number of new jobs and career growth opportunities for our staff. We remain focussed on continuing to build a long term sustainable business in Wrexham, alongside the local community and the Welsh Government.’
Avox was formed in 2003 to provide a solution to data integrity for international banking transactions. The company was bought by Deutsche Borse and in 2010 was sold to DTCC, a not for profit company jointly owned by the banking industry in the US. Since its acquisition, Avox has increased its headcount at its operations centre in Wrexham from 140 to 215 people.
The expansion in Wrexham will support projected business growth and evolving client needs as the financial services industry continues to increase focus on timely risk management and regulatory reporting.
Earlier in the day, the Minister visited Moneypenny, the UK’s leading provider of telephone answering services, also based in Wrexham. Both these companies are enhancing North Wales’ growing reputation of its financial and professional service sector. As well as Avox and Moneypenny, the region is home to well-established and respected companies such as Sanlam and Moneysupermarket.com.