Citco Group creates 250 jobs in Cork

Two new facilities opened by the Minister for Enterprise, Trade and Employment, Micheál Martin, for Citco, the world’s leading provider of hedge fund services, will employ a total of 250 staff.

The jobs will be located at its new hedge fund administration centre and also at its existing data processing operation, both located at Tellengana House in the Blackrock area of Cork city.

IDA Ireland is supporting both developments.

Minister Martin said that the developments showcased the ability of the region to provide the facilities and workforce needed to attract in top-class financial services operators.

Citco, which currently employs 600 people in this country, 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.

Kieran Conroy, managing director Citco Fund Services (Dublin), said they planned to offer challenging and rewarding financial services opportunities to top quality graduates from third-level colleges in close proximity to Cork, in addition to candidates with industry experience.

Founded over 60 years ago, the Citco Group represents the largest global service provider to hedge funds today, administering $300bn (€247bn) in net assets and over $150bn (€123bn) in assets under custody for financial institutions around the world.

The Citco Group also provides the highest quality corporate and private client fiduciary services to multinational companies, financial institutions and their professional advisors.

For more information about the Citco Group, log onto its company website www.citco.com.