Credit Suisse opens new trading floor in Dublin

Financial services firm is to employ 100 people

Newstalk, Credit Suisse, Dublin, jobs, trading floor, finance, financial services

The new Dublin offices of Credit Suisse | Image via @SeanDefoe on Twitter

Financial services firm Credit Suisse has opened its new trading floor in Dublin.

Some 100 people will be employed at the office.

The Dublin operation will handle the trading, capital and risk management for the business.

Credit Suisse says 40 of the jobs will be in trading, risk and capital professionals and 60 will be support roles.

Taoiseach Enda Kenny has opened the trading floor today.

The opening of the Credit Suisse AG Dublin Branch follows a Central Bank announcement in December that it had authorised the bank to establish a branch in Ireland.

The branch will be located at Kilmore House in Spencer Dock - at the heart of the IFSC.

The new Dublin trading floor | Image via @SeanDefoe on Twitter

Finance Minister Michael Noonan said: "I welcome the decision by Credit Suisse to become the first 'third country' bank to seek to branch into Ireland".

"The changes in legislation that were introduced in the Central Bank (Supervision and Enforcement) Act, 2013 by the Government ensured a level playing field for third country banks".

"I am delighted that such a strong global player has decided to move prime brokerage services to Ireland".

While Tim O'Hara - CEO of global markets at Credit Suisse - said: "We are delighted to officially open the first Credit Suisse trading floor in Dublin today.  This marks a first for Ireland and for Credit Suisse".

"The broad talent pool and efficiencies that the capital city has to offer made the decision to deploy operations in Dublin an easy one".