International Flavors and Fragrances (IFF) is headquartering its global financial services centre in Budapest, Péter Szijjártó, the minister of foreign affairs and trade, said. The minister noted that tied to the investment by IFF, among the world’s leading producers of flavouring and fragrances, is training aid of 4,000 euros available per employee. The Budapest headquarters, responsible for the company’s entire financial coordination and complex accounting, will have a headcount of 100, he added.
IFF’s chief financial officer Richard O’Leary said the company had found a cost-efficient and business-friendly environment, and was planning for the long term in Hungary. IFF weighed the local infrastructure as well as the well-trained workforce when taking the decision on the centre’s location, he added.