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Fund firm to create 50 jobs

A CORK-based fund company is creating 50 jobs with the opening of an office in Dublin.

Apex Fund Services, which is one of the world’s largest independent global fund administration businesses, said it is opening the office in response to its rapidly growing client base internationally.

With 21 offices internationally, Apex Fund Services located in Cork four years ago. It said that having now reached its optimum size and with an increasing amount of funds business going through the Irish office, establishing a presence in Dublin was the “obvious next step” for Apex Funds Services management.

Managing director of Apex Fund Services, John Bohan, said: “Ireland has always been an important part of Apex’s international expansion. With over 43% of the world’s hedge funds administered in Ireland, the Cork office was an initial springboard for the company’s global expansion, which now sees Apex in 21 countries around the world.

“We are already actively recruiting for the new positions in the Dublin office, which will be mainly graduate roles in the area of fund accountancy, compliance and IT.”

Apex Fund Services employs 200 internationally, with 30 based in their Cork office. The new jobs will be created in the next 18 months.

Chief of Enterprise Ireland, Frank Ryan, said financial services is a very important sector for the Irish economy with significant potential for export and employment growth.

“Apex Fund Services is a prime example of the dynamic and ambitious Irish companies that are driving export growth in this sector,” he said.

Group managing director of Apex Fund Services, Peter Hughes, said despite the global financial crisis, the company’s Cork office has performed “spectacularly well” and has given Apex a healthy share of the Irish fund administration market.

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