Canadian company to establish new Melbourne office, creating 50 jobs
Move strengthens Melbourne’s position as Australia’s financial services hub More than 110,000 people employed in Victoria’s financial services
Cambridge Mercantile Group, a corporate global payments and risk management solution provider, has established a new office in Melbourne, creating 50 new jobs within three years.
Headquartered in Toronto, Canada, Cambridge is among the largest bank-independent providers of cross-border payments and risk management solutions in the world, facilitating the secure movement of over USD 23 billion dollars annually.
Victorian Deputy Premier and Minister for State Development Peter Ryan welcomed Cambridge to Melbourne.
“I am delighted that Cambridge has decided to set up in Melbourne, one of the key financial centres in Asia/Pacific with extensive commercial and international networks,” Mr Ryan said.
“With an international reputation for excellence in funds and pension fund management, and one of the most highly skilled financial service workforce’s in the Asia/Pacific region, Victoria’s financial services sector directly employs 110,000 people across the state, and generates a further 140,000 indirect jobs.”
Bernard Heitner, Chief Executive Officer of Cambridge, said the decision to invest in Melbourne reflected “strong commercial opportunities in the city, a dynamic business environment and a strong talent pool”.
“With many major superannuation/pension and other wealth funds based in Melbourne, in addition to a large number of leading financial institutions, we considered Melbourne an attractive proposition for our business,” Mr Heitner said.
“I am proud to extend our internationally renowned products and services to this fast growing market.
“The remarkable growth experienced in Australia and the entire APAC region is expected to continue with the addition of our new Melbourne operation.”