EU – Baltic States, Good for Business, Investments, Lithuania, Markets and Companies

Over the next three years, Catalyst plans to hire around 30 employees, including highly-qualified analysts and consultants, according to investment development agency Invest Lithuania.

Vilnius competed with three cities in Ireland and Poland, Catalyst Managing Director Stephen Loosley disclosed.

"Vilnius entered our initial list of possible nearshore destinations on the recommendation of a Lithuanian member of staff. We then followed a detailed selection process, shortlisting Belfast, Warsaw, Galway and Vilnius," Loosley said.

Vilnius was chosen because of its infrastructure, cost-competitiveness and expansive pool of highly educated potential hires with both the skills and the English language proficiency the company needed, he said.

Invest Lithuania says Catalyst will work on strategically important projects for its blue-chip banking, asset and wealth management clients.

Headquartered in London, the firm has an offshore base in Jersey and a permanent presence in Tokyo and plans for further overseas expansion.