Belfast Telegraph

Monday 22 September 2014

Finance firm doubles Limerick jobs

Jobs Minister Richard Bruton announced a leading US financial services company is to take on another 400 employees at its Limerick base

A leading US financial services company is to more than double its workforce at its mid-west operation.

Fund administrator Northern Trust is to take on another 400 employees at its Limerick base over the next five years.

Jobs Minister Richard Bruton, who met company executives during a trade mission to the US, made the announcement.

"These are highly skilled roles and the company will work with University of Limerick and the Limerick Institute of Technology in filling them," he said.

"I commend my officials, the IDA and all involved in securing this investment. As we in Government continue to implement our plan for jobs and growth I am determined to ensure that we can see more announcements like this around the country in the coming years."

The Limerick office, which already has 300 workers on the payroll, is regarded as a fund administration centre of excellence. It provides administration and support to alternative, multi-manager and traditional investment managers, pension funds, multinationals, insurance companies and not-for-profit organisations.

Catherine Duffy, general manager for Northern Trust's Limerick office, said the University of Limerick and the Limerick Institute of Technology would be a strong source of new graduate employees.

The expansion is being supported by the Government through IDA Ireland. Jobs will be available in traditional and hedge fund accounting, financial reporting, pricing, private equity, alternative asset administration, real estate administration, finance, IT, human resources and training, and corporate services.

Finance Minister Michael Noonan said: "I hope that the success of Northern Trust in Limerick and today's vote of confidence will encourage other financial services companies to establish in the region."

Elsewhere, Taoiseach Enda Kenny announced 50 new jobs at the new Dublin city offices of Realex Payments. The online payment firm is expanding its operations in the capital, boosting its workforce up to 170 by the end of next year.

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