PwC signals Ireland’s potential

PricewaterhouseCoopers (PwC) has said that Ireland holds significant potential to be an international banking hub location, but that in order for that to happen the country needs to ensure it meets emerging European and global regulatory standards.

According to PwC’s Garvan O’Neill: “The banking sector will seek ways to reduce costs and one solution is a collapsing of each corporate structure into a central European hub with a collection of branches in each European jurisdiction. From such a hub, a central governance, risk and compliance structure can support the activities within each location.”