Abacus Group, a managed service provider to alternative investment firms, is opening a new office in central Edinburgh to expand its research and development and customer support capabilities while leveraging the rich local talent pool in the area.

The move follows the company’s 15% growth in revenues last year, building on the 21% recorded in 2022.

The new office is already being utilised by a number of employees, and Abacus expects to fill additional roles by early 2024 to support projected growth of 19%, whilst having the added benefit of providing new jobs to the area.

As it looks to increase headcount by 10-20% this year, Abacus anticipates using its Edinburgh facility as a base to recruit for security analysts, cloud architects and systems engineers, in addition to offering prospective candidates posts in a wide range of customer service, or helpdesk support roles.

Key to the decision to opt for Edinburgh is the opportunity the city provides to support emerging talent looking to get into the sector, its reputation of boasting a highly skills and diverse workforce, as well as being a renowned research and innovation hub, especially in sectors like technology and finance.

Abacus says it will  actively be speaking to universities in and around the Edinburgh region, with a view to getting involved in graduate recruitment schemes in the future.

Tom Cole, Managing Director, UK & Europe, Abacus Group, said: “We uncovered that there is a rich pool of cybersecurity expertise in the Edinburgh area. There is a consistent cadence of talent coming through the education system in Scotland and the new office directly enables us to capture a share of those skills.”

The office opening forms part of the company’s ambition for sustainable growth, driven by demand from clients in Scotland, the wider UK, and by the opportunity to extend support to clients across the EU, after it expanded its client base significantly in 2023.

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It also acts as a strategic extension of Abacus’s London office, backed by the expertise of the 40+ strong team based in the English capital.

According to Cole: “Abacus is growing strongly in the UK through our quality of service and delivery. We are laser-focused on client satisfaction and the new Edinburgh office extends our capability to provide a consistently high level of quality to our customers throughout the UK. Critically though, it gives us a presence in Scotland, and we are ready to bring our expertise to regulated financial firms across the region.”

The new office will accommodate 15 employees, with plans to be considering larger office options in the next 12-24 months.