ABN Amro cuts Irish staff

Dutch Bank ABN Amro is to cut 17 out of its 170 staff at the International Financial Services Centre in Dublin through a compulsory redundancy scheme.

After a review of its operations, the company is to move some of its office functions out of Ireland.

In 2002 the bank moved some of its stockbroking functions from Dublin to London and the analysts covering Irish quoted companies are now based there.

ABN Amro was once prominent in technology venture funding in Ireland with an active corporate finance arm but they are not involved in Ireland in this way any more.