Cork can become Canary Wharf of Ireland; Deutsche Börse Group in 200 jobs boost

By Padraig Hoare

Cork can become the Canary Wharf of Ireland when it comes to financial services, according to the boss of a company that will become the anchor tenant of the €90m Navigation Square development at the city's docklands.

Deutsche Börse Group said it was to expand activities in Cork, Ireland to reflect the growing funds business of its post-trade services arm Clearstream.

Clearstream will create another 200 jobs to add to the more than 360 located currently in the Airport Business Park.

Clearstream managing director and Cork native David Brosnan said it was a proud day for the firm, and that he believed the docklands area would become "the Canary Wharf of the financial services sector in Ireland".

He said: "We believe with much commercial development happening in the area, it will become one of the best financial services districts anywhere. With so much confidence in Cork at the moment and what it can become, it was a no-brainer to move to Navigation Square."