At the event, Minister of Foreign Affairs and Trade Péter Szijjártó welcomed the fact that the world’s largest fund management company is developing its financial and business technology, marketing strategy and client data management system using Hungarian professionals. “The investment has contributed to enabling innovation, service and excellence centres to develop to become the second most important sector in Hungary after the automotive industry”, he said.

According to the Minister, BlackRock’s investment also proves that international investors regard Hungary as an excellent investment destination. “Companies that represent the highest added value and build on the most advanced technologies find it attractive that Hungary’s domestic environment not only favours production, but also internationally acknowledged, high-standard development projects”, he added.

He stressed that BlackRock’s Budapest centre offers a competitive work opportunity even compared to the global attractiveness of London’s City, and could contribute to attracting highly-trained Hungarian employees home from abroad.

Mr. Szijjártó said Hungarian work opportunities will be showcased in London and New York before the end of this year, with the participation of BlackRock and other corporations, in the interests of motivating more professionals to move to Hungary. The Minister pointed out that BlackRock employs 14 thousand people worldwide and manages 6300 billion dollars in assets. “Only the United States and China have a higher budget”, he added.

At the opening ceremony, BlackRock’s Head of Europe, Middle East and Africa Rachel Lord said that throughout the world the company combines global technologies with local knowledge. Based on management experience, she said the most important values were teamwork and cooperation, adding that the company’s management trusted in its Hungarian team even during initial difficulties. The Budapest centre has developed to become BlackRock’s second largest European office, overtaking Paris and Milan, and is already employing 450 people after just over two years, she added.

Managing Director of BlackRock Budapest Melanie Seymour said she hopes that as part of the company’s global network, the Hungarian centre will attract more professionals to Budapest and as a result further improve the most important local resources: talent and expertise.