Citco to create 250 jobs in Cork

Citco, a global financial services organisation, is to open a second hedge fund administration centre in Cork.

The company is also to expand its existing data processing operation in Cork with the support of IDA Ireland.

The two developments will create a total of over 250 new jobs.

Minister for Enterprise, Trade and Employment Micheál Martin TD said: "Added to yesterday’s announcement by Amgen, this means that over the next few years, 1,350 high quality new jobs will come on stream in the Cork region.”

Citco currently employs 600 people in Ireland and has been servicing clients for over six years from three separate operations at its offices in Dublin’s International Financial Services Centre (IFSC) and at the Cork Airport Business Park.

The two new developments will be located in Blackrock, Cork.