Financial Sector


5
Jun 14

500 Finance Jobs to be Created at New Hub on Old Smithwicks Brewery Site in Kilkenny

The city has failed to attract multinationals in recent years, other than US fund managing company State Street.

The latest promise of jobs comes as Kilkenny County Council told new councillors it has an ambitious €33m plan to transform the former Smithwick’s site in the city centre, which was given to the city by Diageo in 2012 for a nominal sum of €2.1m.

The council has also been in separate discussions with six other prospective firm which could create a further 500 jobs, the council said.

Councillors are expected to vote on proposals in the coming weeks but say they would need €33m investment from the Government, state agencies, the council and private partnerships.

Plans include a research centre for Waterford and Carlow IT, a new park and 180,000 sq ft of new office facilities, including the refurbishment of the former brew house for what is believed to be a financial services firm.

“The proposal to establish on the Smithwick’s site a major international services company with some 500 jobs is very advanced (though not finalised), with real prospects of a further 500 jobs,” county manager Joe Crockett told councillors.

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8
Jan 14

Ireland Impresses with 1st Post-Bailout Bond Sale

The National Treasury Management AgencyDUBLIN (AP) — Ireland made a triumphant return to debt markets Tuesday as it auctioned 10-year bonds to great demand for the first time following the country’s successful escape from an international bailout.

The Irish treasury said it sold 3.75 billion euros ($5.1 billion) in bonds, picking from a field of international bidders who sought to buy more than 14 billion euros of the debt securities. The high demand meant the bonds were sold at an average yield of 3.54 percent, better than investors’ views of fellow eurozone nations Spain and Italy.

Investor enthusiasm for Ireland’s new debt securities pushed yields on the country’s existing 10-year bonds down to 3.25 percent, an 8-year low.

“The Dublin government’s bond auction was a roaring success, more than three times oversubscribed, and the golden boy of austerity is making the rest of the PIGS — Portugal, Italy, Greece and Spain — green with envy,” said Brenda Kelly, an analyst at London financial derivatives trader IG Group.

She said Moody’s, the only credit rating agency yet to upgrade its position on Ireland, was likely to raise the nation’s debt securities back to investment grade in its next report Jan. 17.

Irish Finance Minister Michael Noonan said the aggressive bidding reflected a total reversal of the country’s economic crisis in 2010, when Ireland faced national bankruptcy over the runaway cost of a bank-rescue program. The yields on Irish 10-year bonds soared, rendering affordable borrowing impossible.

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16
Nov 13

Financial Technology Company Sentenial Announces 110 Jobs

Top LogoFINANCIAL TECHNOLOGY FIRM Sentenial has announced 110 jobs in Ireland.

The company said the jobs will be rolled out as it helps banks and other businesses prepare for the change to the Single Euro Payments Area (SEPA) on 1 February 2014, which will provide a common payment processing system across the EU.

Sentenial said 30 of the jobs will be advertised before Christmas with the remaining 80 to be filled by the end of 2014.

Chief executive and founder Sean Fitzgerald said the jobs announcement was a positive step by the 1o-yea-old company.

“I am very proud to have built a successful indigenous Irish technology business from a start-up in 2003 into a rapidly growing business at the heart of the European payments system,” he said.

Sentenial currently employs 160 people. Its banking customers include AIB, Bank of Ireland, Bank of America and ING.

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28
May 13

Aztec Money to create 100 new jobs in Dublin

Aztec Money to create 100 new jobs in DublinUp to 100 new jobs in the areas of data processing, marketing, sales and IT are to be created in Dublin by international finance firm Aztec Money.

The company, which specialises in providing SMEs and corporates with access to a network of institutional investors, is locating its global headquarters on Georges Quay in Dublin.

The company works with businesses by connecting them with investors interested in purchasing invoices and thereby allowing them to improve cash flow.

The company has raised significant capital from a range of private investors, including the Chandler Corporation, a private investment group based in Singapore which has taken a 28.5pc stake in the company.

“Today, Aztec Money are announcing that they are establishing an innovative new service for Irish SMEs to help improve cash flow, which will be a very welcome addition to the supports available to job-creating businesses here,” the Minister for Jobs, Enterprise and Innovation Richard Bruton said.

“Beyond that, Aztec is also announcing that they have established their global headquarters in Dublin, with the creation of 100 new jobs over the next two years. We in Government will continue working hard to ensure that we can attract further international investment to Ireland and help create the jobs we need,” Bruton said.

Aztec Money has been conceived by an experienced team of international finance professionals and will initially focus on Ireland, Spain, Italy and Greece for its product provision. It is also in the process of opening representative offices in Brazil and Poland, and plans to open new offices in Asia and the USA as the service develops.

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27
Mar 13

Crowd Funding initiative to restore Irish business lending

Linked Finance, Ireland’s first online crowd funding initiative, launched in Dublin with the backing of a high-profile line-up of Irish entrepreneurs and international investors.

 

Pictured at the Linked Finance launch at the Merrion Hotel, Dublin, were Conor Mc Aleese, COO, Linked Finance; Peter O’Mahony, CEO Linked Finance; Bobby Kerr, Kingsley Aikins, and Senator Feargal Quinn. (Photo: Conor McCabe Photography)

The new Linked Finance technology facilitates person to person (P2P) lending, or ‘crowd funding’ for Irish business, and is a simple but clever way to introduce cash into an economy.

Partners and investors in the new crowd funding scheme include Dragon’s Den star Bobby Kerr, Senator Feargal Quinn and businessman Kingsley Aikins.

‘Linked Finance not only provides investment, but builds strong business relationships, as a company’s lenders become its customers, ambassadors and salespeople in effect. With Linked Finance, bankers get bypassed, the wheels of business are kept turning, and everyone wins,’ says CEO Peter O’Mahony.

We will support SMEs in any sector once they meet our criteria, ‘a butcher, a baker, a candlestick maker’.

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18
Nov 12

Contracting PLUS announces expansion, 17 new Irish jobs

AN IRISH COMPANY OF accountants for professional contractors, CXC Consultants Exchange, has announced their new name, Contracting PLUS.

After their buyout of foreign investors, Contracting PLUS is now a wholly owned Irish company with expansion plans in Ireland as well as in the UK and Europe which will lead to the creation of 30 new jobs, 17 of which will be in their Irish offices in Dublin and Cork.

Contracting PLUS has seen a 70 per cent increase in turnover in the last three years, with a 50 per cent growth in employee numbers to more than 100 people in their offices in Ireland, UK, Russia and India.

Contracting PLUS provides solutions to over 3,000 professional contractors in sectors including Aviation, Engineering, IT and Pharmaceutical.

Minister for Research and Innovation Mr Sean Sherlock welcomed the announcement. Frank Ryan, CEO of Enterprise Ireland also congraulated the company.

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7
Nov 12

150 jobs set to be created following expansion of financial firm in capital

Butterfield FulcrumFund administrator the Butterfield Fulcrum Group is to create 150 jobs in an expansion in Dublin.

The jobs will be in middle office and customer relationship management.

Butterfield Fulcrum was established in Ireland in 2009. The announcement is set to boost employment figures at the company to 250.

Glenn Henderson, CEO of Butterfield Fulcrum said: “Our experience with the Irish labour market has been phenomenal.

“Our clients have been very impressed with the calibre of those we have hired in Ireland.”

He said the expansion “is as a result of this success”.

Jobs Minister Richard Bruton, said the Government had targeted the international financial services sector as a growth area.

He said: “International financial services is a key sector targeted in the Government’s plan for jobs and growth, and in the past 18 months we have implemented a number of changes to support expansion and jobcreation in this sector.

“Over recent months we have seen some positive announcements in this field, and [the] announcement this leading international company is creating an additional 150 jobs in Dublin is very welcome.

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21
Sep 12

Two companies announce new jobs in Dublin and Dun Laoghaire

Erich Sixt, center, CEO of the German car rental company Sixt AG waits for the start of the annual shareholders meeting in MunichTWO COMPANIES HAVE announced that they are after creating new jobs in Ireland.

arvato Finance has said it delivering on its promise to create 150 jobs in Dublin a full two years ahead of schedule.

The positions have been created in IT, consulting, finance and accounting, project management and customer service roles over the past 12 months – and arvato is set to expand further and 100 positions have been created across the arvato network.

There are more than 60 positions currently available and 40 people have been recently recruited.

arvato has moved into new premises, which has been re-named ‘The arvato Building’, in Dublin’s Eastpoint Business Park. The building was officially opened by An Taoiseach, Enda Kenny TD today.

arvato’s employees in Dublin work in more than 35 languages, supporting Dublin’s position as a key strategic centre for the company’s global network.

Sixt

Meanwhile, Sixt rent a car, Germany’s largest vehicle rental company, announced that County Car Rentals has won the Sixt rent a car franchise for Ireland and will now operate under the Sixt brand.

Dun Laoghaire based County Car Rentals has been operating since 1952 under the ownership and management of the Loughran family.

As a result of the partnership, Sixt rent a car Ireland has created 11 new jobs at its head office in Dun Laoghaire and Dublin airport and has plans to recruit an additional 12 staff over the next eight months.

Bernard Loughran, Managing Director, Sixt rent a car Ireland, said:

County Car Rentals is delighted to partner with Sixt rent a car in Ireland as part of our strategy to expand and grow our business.  This partnership gives us an opportunity to attract new tourism and corporate business from strong economic regions including Germany and Austria.

An Tánaiste Eamon Gilmore, Minister For Foreign Affairs and Trade congratulated Bernard and all the Loughran family “for their vision and tenacity in developing the company over these years”.

As part of the partnership all rental offices and operations have been rebranded with a new Sixt rent a car corporate image.

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21
Sep 12

Northern Trust to offer 400 new jobs, Biggest Jobs Boost in Limerick

Northern Trust, America’s leading financial services company is about to create 400 new jobs in Limerick by the year 2017. This is the latest announcement disclosed by Minister for Jobs Richard Bruton.

Minister Bruton said the company will be in search of capable individuals to fill up highly skilled roles the Northern Trust is about to bid, as part of a major expansion of its Irish operation over the next five years. The additional 400 employees will be working at its Limerick office by then. If attained, then this will include Plassey, Limerick among its biggest offices in the world.

Northern Trust will collaborate with the Limerick Institute of Technology and University of Limerick in order to fulfill this project, particularly in filling up available work slots. According to the general manager for Northern Trust’s Limerick office, Catherine Duffy, both LIT and UL are potential sources of new graduate employees.

The company’s expansion project is also backed by the Government through IDA Ireland.

Barry O’Leary, IDA Ireland chief executive said such investment fortifies the reputation of Ireland’s mid-west region, as a site of choice for expert financial services operations.

Among the available jobs to fill would include financial reporting, private equity, IT, finance, human resources and training, real estate administration, corporate services, alternative asset administration, traditional and hedge-fund accounting.

Delighted with this news, Minister for Finance Michael Noonan commented that Limerick will likely become the core for financial service industry. Mr. Noonan hopes that today’s vote of confidence and the success of Northern Trust’s operation in Limerick will also inspire other financial services companies to come and invest in the region.

This is by far the biggest jobs boost Limerick has obtained since Dell closed its manufacturing division back in the year 2009.

Meanwhile, Northern Trust’s most senior representative in Ireland, Clive Bellows, at Wednesday’s notice said 50 of the overall number of new jobs will be filled by the end of 2012 and another 100 by 2013.

Northern Trust’s Limerick base is regarded as an account administration center of excellence. The office’s primary obligation is to offer support and administration to pension funds, insurance firms, multinationals, non-profit organizations, alternative, multi-manager and traditional investment managers. Currently, it already has 300 individuals in the workforce.

The announcement about these new jobs for Limerick residence came after Electronic Arts announced it needs 300 people to fill in the vacancy brought by its facility expansion in Galway. Basically, it will lessen Ireland’s unemployment figures as well as help locals.

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7
Jul 12

Grant Thornton to create 50 jobs across Ireland

Grant Thornton to create 50 jobs across IrelandGrant Thornton to create 50 jobs across Ireland

Financial consultancy firm Grant Thornton is to create 50 job across Ireland, Taoiseach Enda Kenny announced yesterday.

Ten of the jobs will be based at the company’s new offices in Merchants Square in Galway City, where another five jobs are to be created this year.

Additional jobs are to be rolled out in Galway over the next few years.

Kenny said the news of the new jobs illustrates Grant Thornton’s confidence in Galway’s economic sector.

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