THE creation of 200 jobs at a data cleansing subsidiary has been welcomed by ministers.
Avox Limited, based on Wrexham Industrial Estate, aims to meet its target by the end of 2016 in support of projected business growth.
First Minister Carwyn Jones, who met senior management at Depository Trust and Clearing Corporation (DTCC) in New York, has welcomed the news its Wrexham subsidiary Avox is to almost double its workforce.
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 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.
Mark Davies, general manager and head of Avox Limited, added: “Over the past few years, we have seen tremendous adoption of the Avox service, with 35 per cent growth in our client base in just the past year.
“This growth is a testament to our clients continued focus on regulatory compliance, as well as their ongoing commitment to risk reduction and counterparty transparency.
“As a result of this growth, and in support of wider expansion of DTCC support for industry initiatives, we will significantly increase our team in the coming two years.
“Wrexham has been our headquarters since Avox commenced operations in 2003 and we find the superb local talent in the immediate area to be a key enabler of business growth. We look forward to our continued partnership with the local community.”
Prime Minister David Cameron said: “Backing enterprise to create more jobs, meaning more financial security and peace of mind for hardworking families, is a key part of our long-term economic plan.
“The news from Avox is a great vote of confidence in Wrexham and shows the UK is open for business.”