Financial services firm to create 350 jobs at new centre

Up to 350 jobs are to be created by a leading US financial services company in Co Louth, it was confirmed today.

Enterprise Minister Micheál Martin announced that Vesta Corporation is to establish a European Operations Centre in Dundalk.

Supported by IDA Ireland, the facility will create 350 high quality jobs over three years.

Vesta Corporation provides phone, web and other virtual payment solutions for a variety of products, including prepaid mobile phones.

The new facility in Dundalk will support Vesta’s European mobile telecoms clients, as well as providing back-up for the company’s existing international business.

Minister Martin said: “Today’s announcement is excellent news for Dundalk, as Vesta is a successful global corporation operating in a highly innovative business area.

“IDA’s strategy of targeting the North East of the country for international financial services investments proved very successful in 2005, with a number of significant companies locating there. Vesta will further complement and strengthen this success.”

Vesta holds a dominant US market share in real-time virtual (through phone, web, SMS) top-up for prepaid telecoms products, such as mobile phones and long distance calling cards, and is a leader in the flourishing Chinese mobile payments market.

Doug Fieldhouse, President and CEO of Vesta, said the company sees the European mobile telecoms market as an ideal expansion opportunity for its secure transaction services.

“The new Dundalk Operations Centre will play an integral role in our strategy to pursue further growth opportunities in international markets, particularly in Europe,” he said.

“As it will also be the disaster recovery back-up location for Vesta US, it will form a crucial part of our operations going forward.”

The new Dundalk centre will be a 24/7 customer support operation, and will also house an engineering team, revenue assurance department, business analysis department, European finance and treasury management, and an in-house data centre providing disaster recovery capability for Vesta’s international locations.

The centre will initially occupy one third of a recently constructed 30,000 square foot facility at the IDA Ireland Finnabair Business Park, and will expand into the other floors as employment increases.

Recruitment will commence immediately for customer service representatives, financial specialists, supervisors, and highly specialised managers.