KUALA LUMPUR - American financial giant MetLife Inc is building a new Centre of Excellence (CoE) for finance here.

Metlife said in a statement today the CoE will partner with MetLife’s local country and global finance teams to provide expertise and support on financial reporting, planning and analysis, and finance technology systems.

Located at The Vertical Corporate Towers in Bangsar South commercial district, the centre will open in mid-2019 and will employ over 80 people.

Meanwhile, a Malaysian delegation led by International Trade and Industry Minister Darell Leiking has visited MetLife’s headquarters in New York.

Leiking, who was joined by InvestKL chief executive officer (CEO) Datuk Zainal Amanshah and Malaysian Investment Development Authority (Mida) CEO Datuk Azman Mahmud, met with several members of MetLife’s senior management team including chief financial officer John McCallion.

They discussed a variety of topics including MetLife’s plans for Malaysia and the region specifically in government relations, innovation and talent development, and brand development.

With operations in more than 40 countries, MetLife is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management.

In 2014, MetLife established a strategic partnership with AmBank Group and came together as AmMetLife.

“We are pleased to have a renowned brand like MetLife expanding their presence in Malaysia. Kuala Lumpur and the surrounding areas has many advantages that include a sophisticated business ecosystem, business-friendly policies, well-developed infrastructure, and has a competitive cost advantage coupled with a strong talent pool,” Leiking said in a statement.

“Many companies with regional business services have established a footprint in Greater Kuala Lumpur, providing high-value employment opportunities to Malaysians. Their investment here will help to transform our economy to become more vibrant and sustainable,” he added.

McCallion said Asia is strategically important to MetLife, and the company will continue to invest in infrastructure, people and expertise to support its growth.

“With the CoE, we will share industry knowledge and best practices, and create more opportunities for local talent in Malaysia,” he said.

Zainal said MetLife is an iconic investor with its presence in Malaysia having a multiplier effect on the country’s economy.

“Investor interest in Malaysia’s Digital Economy continues to grow in the areas of Artificial Intelligence (AI), Big Data Analytics (BDA), Internet of Things (IoT) and cybersecurity.

“This is in-line with MITI’s Industry 4.0 initiatives. Our agency, InvestKL, will facilitate MetLife in all aspects of their business and ensure that their CoE will enhance their operations in Malaysia and in Asia Pacific,” he said.