Tánaiste Leo Varadkar has marked the 20th anniversary of Northern Trust's presence in Ireland
The contribution of Northern Trust, which is celebrating 20 years since it established a presence in Ireland, has been recognised by the Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar and IDA Ireland.
The financial services company, which is one of Limerick's biggest employers, is the third largest provider of fund administration and custody services in Ireland employing more than 1,600 people at its offices in Dublin and Limerick.
Marking the contribution the company has made over the last two decades, Mr Varadkar said: “Congratulations to all the team at Northern Trust on this really significant milestone. It’s great to see your growth and continued commitment to the Irish financial services industry. Northern Trust is a valued employer in Ireland, employing some 1,600 people, and contributing substantially to the economy of Dublin and the Mid-West. We look forward to seeing what the next 20 years will bring.”
Huge congratulations to Catherine Duffy and to all @NorthernTrust Celebrating 20yrs in Ireland. You have made such a significant impact in Limerick and beyond and we are delighted to see you embrace digitalisation and drive the evolution of Irish funds https://t.co/okM9JqPAcs— IDA Mid-West Region (@IDA_MidWest) December 15, 2020
Meliosa O’Caoimh, head of Northern Trust in Ireland commented: “Our business in Ireland has been a hub of innovation and industry firsts. Today we are embracing the power of digitalization to drive new efficiencies for our clients and their investors – including the replacement of manual processes and paper-based communications digital methods with new types of experiences. Our clients from all over the world continue to approach us to help them package and distribute investment ideas they feel will bring value to their investors around the world.”
Clive Bellows, head of Global Fund Services, for Europe, Middle East and Africa at Northern Trust added: “Ireland is a global centre of fund administration excellence for Northern Trust, from which we support our clients and their investors. Our commitment to Ireland is reflected by partnerships with institutions including the University of Limerick, The American Chamber of Commerce and IDA Ireland – and we are thankful for their continued support.”
In recognition of its 20 year anniversary, and in line with its approach to continue to provide support to local communities, Northern Trust in Ireland has earmarked €20,000 for donations to local charities around its Dublin and Limerick offices, respectively. €10,000 will be provided to the Belvedere Youth Club and €10,000 to Basis Point.
Commenting on the milestone, Martin Shanahan, CEO of IDA Ireland said: “We are delighted to see the continued growth and commitment of Northern Trust to the Irish financial services industry. Since 2000 the company has helped drive the evolution of Irish funds and created employment opportunities for both graduates and experienced experts – many of whom have returned to Ireland after working abroad. We congratulate Northern Trust on this anniversary.”
Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and revenue enhancement solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.