South-west eyes growth in financial services sector

Cork Chamber chief executive Conor Healy said skills availability is not a concern for the region

The south-west of the country – specifically counties Cork and Kerry – is confident of attracting more international financial services firms to the region over the coming years.

Growth is anticipated through new companies establishing bases and existing companies furthering investment and boosting their job numbers.

Currently, around 3,500 people are employed across the financial services sector in the south-west. Growing areas of interest include asset management, fund administration and fintech.

There are approximately 40 international finance firms based in the south-west.

Highlighting opportunities

At an event highlighting the opportunities for the region, Cork Chamber chief executive Conor Healy said skills availability is not a concern.

“Availability of talent is top of the agenda in every conversation we are having with businesses at the moment, and the financial services sector is no exception,” he said.

“In the south-west, the financial services industry is supported by a strong talent pipeline of highly-educated potential future employees from the two regional universities. UCC and Munster Technological University have a combined total over 40,000 students, and 2,000 graduate in business or finance disciplines each year.”

There are currently 211 IDA client companies – across various sectors – in the south-west, employing more than 46,000 people. The IDA has said it is targeting 118 investments for the south-west region between this year and 2024.