Salomon Securities, a professional services firm providing corporate finance & capital markets advice to entrepreneurs, governments & businesses, has established its new headquarters in Vilnius.
The company, which draws its roots, brand and heritage from Salomon Brothers Investment Bank, is looking to source a team of 75 skilled professionals that will include management functions, through to IT development, sales & financial advisory specialists. For financial professionals at all career stages, Salomon offer a genuine career path to stay in Lithuania & enjoy the job variety, training, excitement & opportunity that might normally be associated with a spell in New York, Hong Kong or London.
Salomon’s key focus is to bring its internationally located clients into Lithuania & aims to become the market leader in creating FDI plus institutional capital market liquidity for Lithuania. The company provides post BREXIT solutions to entrepreneurs, businesses and governments via two distribution channels – traditional face to face advisory or through its own proprietary Fintech platform. Its global portfolio of clients ranges from start-ups to publicly listed businesses.
The company’s new HQ in Vilnius will contain its front, middle and back office teams, and provide an end to end service to its clients wherever they may be – all from Vilnius. Lithuania will provide Salomon Securities with a multi-lingual hub in an efficient time zone through which it will service its international clients 365 days a year.
Salomon Securities’ path to setting up its new headquarters was quite unique. Initially, the founders approached Lithuania as part of its analysis of potential EU locations for its English speaking, often UK centric clients, post-Brexit. Through its research Salomon discovered that the country was, to quote the company, “‘the best kept secret’ in the EU“. The company lists Lithuania’s “sensible tax rates, agile public agencies, world class Nasdaq powered capital markets, a well-educated labour force & enviable lifestyle“, as just some of the reasons that drove it to decide that the country would, in fact, be the perfect home for its headquarters & complement its geographic offices in USA, Hong Kong and UK.
And Salomon will be in good company in Vilnius. The city is already home to a number of large U.S financial service companies, including Nasdaq, Western Union, and the recently arrived Moody‘s. Moreover, it has long been the destination of choice for Scandinavian banking, with large service centres in operation for SEB, Swedbank and Danske Bank offering multifunctional services across a number of languages.
“Lithuania continues to successfully take advantage of Brexit in hopes of attracting UK-based companies that would establish new positions. The decision of Salomon Securities to open an office in Vilnius has been unique in that the newly hired specialists will themselves provide services to those businesses, which are working on minimizing the consequences of Brexit. This undoubtedly will attract the attention of such businesses to Lithuania as a potential investment location that is able to provide solutions to global business problems”, – states the Minister of Economy and Innovation Virginijus Sinkevičius.
To guarantee that Lithuania can continue to find and develop the front office talent that major international financial services companies require, Salomon Securities will collaborate with academic institutions and secondary schools with mentoring and support programs. What is more, the company has committed to setting up a research and development laboratory that will provide performance coaching to financial professionals ensuring that Vilnius is on the map as a world class destination of choice to pursue a front line finance career. The lab will also be focused on driving innovation in Fintech.
For Mantas Katinas, General Manager, the establishment of the Salomon Securities headquarters in Vilnius sends out a strong signal to the global market that Lithuania is serious player when it comes to financial services:
“As we’ve seen in the past and now witness in the case of Salomon Securities, Lithuania is able to provide the talents that perform on the highest level – consulting businesses, optimizing complex processes and helping enterprises transform.”
Source: Invest Lithuania