London-based investment manager Downing LLP today announces that it will be setting up a new office in Cardiff that will form a technology centre for the company. Downing will lease the new office space at Park Place, which will house a team of developers, customer service operators and other operational staff. The new Downing tech hub is planned to open in July.
Tony McGing, CEO, Downing, comments:“This is a significant investment for Downing as we bolster our technical development capability and grow our business. The team will be supporting Downing’s IT and digital strategy which requires an innovative and entrepreneurial approach and we have chosen Cardiff as the location due to its reputation as home to great technical talent, clearly evidenced by the number of fintech companies already based in the city.”
Downing LLP is an investment manager with over £1 billion in funds under management. Over the last 30 years it has raised funds from over 35,000 investors. The company helps UK businesses grow by investing in them via a wide range of tax-efficient investments including Venture Capital Trusts, Enterprise Investment Schemes, inheritance tax products and Individual Savings Accounts. Downing has raised over £1.7 billion into businesses across a range of sectors, from energy, care homes, health clubs pubs and children's nurseries to technology and e-commerce.
Kyle Augustin, Chief Technology Officer, Downing, says:“Our aim in creating the new tech hub is to utilise technology more than we currently do to support the growth of the business. While we already employ a number of highly experienced individuals, Cardiff is a hotbed of technical talent and is relatively close to a number of universities. Importantly, it’s also easy to travel to and from London when necessary. The city has a great feel to it and we want to create an office environment that people enjoy coming to and where they can flourish and develop their talent.”
Downing currently has a 10-strong presence in a small rented office in Cardiff but is planning to increase this to 25 over the next few years as it expands its operations from its new premises.
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Jean Birrell, Downing LLP