Cinnober seeks students for trainee programme at new Swedish fintech centre
Trading and risk technology specialist Cinnober is investing in a financial IT cluster in northern Sweden, centred on the university town of Umeå and initiating a a one-year trainee programme stating in the autumn.
“We see great potential in terms of both our own operations and regional development here in Västerbotten,” says Veronica Augustsson, chief executive of Cinnober. “Our investment is part of a growing international trend – especially in the US – where technology companies place a state-of-the-art business in a medium-sized city with the goal of creating a world-class technology cluster. We are now at the forefront of this type of technology venture here in Sweden. This region – including Umeå, Luleå and Vaasa in Finland – has demonstrated very good growth. Together these three cities have 60,000 students, which supports our ambitions of helping to create a financial IT cluster.”
Cinnober technology is used in many international markets and clearing houses, including the Brazilian BM&F BOVESPA, Deutsche Börse, Dubai Gold & Commodities Exchange, the London Metal Exchange, LME Clear, MarkitSERV and the Stock Exchange of Thailand.
At Cinnober’s offices in Stockholm and Umeå there are 250 people, drawn from over 25 different nationalities. “We run an innovative and international business that we know appeals to young tech-savvy men and women,” said Augustsson. “This trainee initiative is part of our efforts to further enhance our attractiveness and being able to engage the best talent. The goal is to cover the entire spectrum with full-fledged professional training, covering everything from technology and design to sales and international contacts.”
The trainee programme is a part of the Cinnober Academy. Admissions start in the summer and the first programme starts in the fall. The company will have two admission periods a year and will offer post-programme employment in a specialist or project management role.
“We have already experienced a remarkable interest in trainee posts”, says Christina Jacobson, HR director at Cinnober. “The application deadline is June 17, so it’s high time to apply for the first season.”