Northern Trust in Limerick could grow to over 2,000 staff post-Brexit

 Another 400 jobs announced by US financial services company this week

Anne Sheridan

Reporter:

Anne Sheridan

Northern Trust in Limerick could grow to over 2,000 staff post-Brexit

Clive Bellows, Mary Mitchell O’Connor, Martin Shanahan, Michael Noonan, and Catherine Duffy at the announcement Picture: Brian Gavin / Press 22

THE IDA remains “optimistic” for Limerick’s future growth, following the creation of 1,451 jobs in the region last year, with an additional 400 jobs announced at Northern Trust this week.

Niall O’Callaghan, Mid-West regional development manager of the IDA, said they are anticipating employment levels in Limerick to rise further, with over 10,000 people employed in Limerick last year.

This was up from over 6,500 employed in Limerick in 2011, and their target is to grow this by a further 40% up to 2019.

The creation of small pools of jobs in Limerick should never be taken for granted, the outgoing Minister for Finance Michael Noonan urged this week, citing the example of Northern Trust.

From seedling beginnings in 2007 when the US financial services company opened in Limerick with 19 staff, it now employs 1,000 people across its two sites in Limerick at Hamilton House and City East Plaza.

This Monday’s announcement that the company is to create a further 400 jobs over the next five years is a further sign that the city has shaken off the shackles of its past, said Mr Noonan.

Minister for Jobs, Innovation & Enterprise, Mary Mitchell O’Connor, said 400 lives and families will be “positively impacted” by the announcement.

Clive Bellows, country head of Northern Trust, Ireland, said the creation of these jobs “underlines Northern Trust’s commitment to Ireland.”

“We have seen growth in the scale and operation of our Irish business over the years and the continued expansion of our office in Limerick reflect this,” said Mr Bellows.

Acknowledging the support of IDA Ireland, the University of Limerick and the Limerick Institute of Technology, he said half their staff are graduates of those two institutions, and it was due to their presence that they chose Limerick as one of their main bases.

He sees “no reason we cannot grow closer to 2,000 people over a ten year period.” 

Martin Shanahan, head of IDA Ireland, said the company’s commitment to Limerick and the country has been “exemplary.”

Labour deputy Jan O’Sullivan said this jobs boost is “another welcome vote of confidence in Limerick.”  

“At a time when people are worried about a concentration of new jobs on the east coast, it is most welcome to see a big boost like this for Limerick over the next five years,” said deputy O’Sullivan.

Sinn Fein deputy Maurice Quinlivan said the announcement highlights the potential of the city and the region to become a hub for global companies looking for an Irish location.

Mayor Kieran O’Hanlon said:“The company has been in Limerick for 10 years and is constantly expanding its operations in the Limerick city region, to a place where they are one of the region’s biggest employers.”