400 new jobs are to be created in Limerick following the announcement of a major expansion by financial services company Northern Trust
The Chicago-based company has had a presence in Ireland since 1989 and opened its Dublin office in 2000.
It open its facility at the National Technology Park in Limerick in 2006 where more than 300 people are currently employed.
The Minister for Enteprise, Trade and Innovation, Richard Bruton met senior executives of the company, including President and Chief Operating Officer William Morrison, on a recent trade mission to the United States.
“Today’s announcement that a world-leading financial services company is expanding its operations in the mid-west with the creation of 400 new jobs is great news for Limerick and for Ireland. These are highly-skilled roles, and the company will work with the University of Limerick and the Limerick Institute of Technology in filling them,” said Minister Bruton.
The roles, which will be created over the next five years, will be in traditional and hedge fund accounting, transfer agency, financial reporting, pricing, custody, private equity, alternative asset administration, client reporting, real estate administration, as well as roles supporting employee functions such as finance, Information Technology, Human Resources and training, and corporate services.
Minister for Finance Michael Noonan said: “The significant expansion by Northern Trust of their Limerick offices which will deliver 400 high quality jobs is excellent news for Limerick and I would like to wish all involved every success in the future. 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.”
CEO of IDA Ireland Barry O’Leary said the announcment is a major coup for Ireland and Limerick.
“This investment strengthens Ireland’s reputation and specifically the Mid-West region, as a location of choice for highly skilled financial services operations. It underlines Ireland’s continuing success in attracting high-calibre investments from world leading financial services companies and builds on Ireland’s standing as the funds centre of Europe. The scale of the investment in a key gateway location is a strategic win for IDA Ireland and it demonstrates the confidence a global leader such as Northern Trust has in Ireland’s skills availability and business infrastructure.”
Today’s announcement is the single-largest jobs boost for Limerick since computer giant Dell closed its manufacturing facility in Raheen in 2009.