LSE Group opens in TRACE City | Daily News

LSE Group opens in TRACE City

The London Stock Exchange Group officials in Colombo.

 London Stock Exchange Group (LSE) will be setting up their biggest service centre in Sri Lanka at the TRACE Expert City in Tripoli Market, Maradana. Named as London Stock Exchange Business Services Ltd, the company will offer 400 direct employment opportunities to Sri Lanka s from the project.

Group Head of Shared Services Martin Ryan said they have been planning this centre for two years and it will provide all support services for their entire business spread all over the world.

He said that they will start the centre in July and will be fully operational by September.

Ryan said that they were also happy with the architecture of the TRACE Expert City which has a good mix of old and new culture.

Business Services Limited Country Head Rohan Paulas said the high quality of skilled staff, global doing business index ratings for Sri Lanka and most importantly the time zone of Sri Lanka were the key factors for this investment to come to Sri Lanka.

“In addition the Millennium IT connection with the London Stock Exchange too helped us to vote in favour of Sri Lanka for this project.”

He said that this is the biggest investment in recent times and would give positive message to the world and entice more FDI’s to Sri Lanka.

“Since this is a knowledge-based business we expect the brain to reserve,” he said.

Exchanges Technology Executive Director Duminda Liyanawela said that this kind business was the key to the economic progress of Singapore and this investment would bring same results to Sri Lanka.

“We have obtained a two acre land on a 10 year lease from the government and would make a significant foreign direct investment for this operation.”

The officials also met Prime Minister Ranil Wickremesinghe yesterday and said they were happy in the manner in which some of the issues were addressed.

“We will soon sign agreements with the Board of Investment and the Urban Development Authority.”

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