Global financial services firm Northern Trust has announced plans to create 200 new jobs at its Limerick base.
The move will take its total Irish staff to 1,200, with the majority of the roles set to be filled by graduates.
Senior vice president Eamonn Fallon revealed the planned expansion when he appeared on a panel discussing the potential to develop financial services in Limerick earlier this week in Dublin's Westin Hotel.
According to the Irish Independent, the IDA's Niall O'Callaghan was also in attendance at the Capital Limerick event. He said during his address:
"Limerick is well-positioned to attract firms with its pro-business environment, appropriate talent, good infrastructure and connectivity, supported by a strong city brand.
"However, financial services firms tend to cluster in financial centres and the importance of reminding the industry of the Mid West's roots in aircraft leasing and the recent expansion of the financial services offering, cannot be underestimated in terms of attracting further investment."
Alter Domus is set to create 60 new jobs in Cork as it opens its second Irish office.
The Luxembourg-headquartered company, which operates from more than 30 locations worldwide, opened a Dublin office six years ago.
It is a leading provider of back office fund, legal services and corporate administration services to businesses including multinationals, real estate firms and private equity and infrastructure investment houses.
Jobs Minister Mary Mitchell O'Connor said at the launch event:
"This is a great win for Ireland and for Cork and adds to the existing hub of financial services companies.
“Ireland remains a committed member of the EU, benefitting from the many advantages that EU membership brings, including bilateral trade agreements with 3rd countries providing market access opportunities and a common predictable legal and regulatory framework.”
Alter Domus CEO Laurent Vanderweyen added:
“Ireland is an attractive jurisdiction for Alter Domus to further expand, Dublin already being a popular investment structuring destination for non-European fund managers, particularly from the US, looking for an entry point into the European market.”
