Former Secretary of State for Northern Ireland Peter Mandelson has returned to the province as non-executive director of a new clearing bank which said it is taking advantage of the access to Europe the region retains under the Northern Ireland Protocol.
The Bank of London, which claims to be the “world’s first purpose-built global clearing, agency and transaction bank”, has opened a centre of excellence focused on operations and other technology functions and is creating around 232 jobs in Belfast.
As a clearing bank it processes and approves payments, moves money around the world, manages cash and offers foreign exchange services.
