US financial firm to create 117 jobs in Shannon

A US global financial security firm is to create 117 jobs in the Shannon Free Zone over the next three months.

Genworth Financial, which has operated in the mid-west since 1997, already employs 345 full-time workers.

The company’s base in Shannon is a centre of excellence for operations, information technology and finance teams for the company’s lifestyle protection business.

The new jobs will be in the operations division of the lifestyle protection business, helping clients to meet repayment obligations on loans, mortgages and other credit products should they be unable to pay due to accident, illness, involuntary unemployment, disability or death.

Announcing the jobs, Enterprise Minister Batt O’Keeffe said the Genworth Financial expansion was a clear indication of its long-term commitment to the area.

“The Shannon Free Zone hosts over 100 firms generating €3.5 billion in annual sales, 90% of which are to export markets,” he said.

“The business park, with its links to Shannon Airport and multi-sectoral employment base, is a strong revenue generator for the local economy and the Shannon Development team worked hard to secure Genworth Financial’s investment against strong competition.”

Separately, pharmaceutical company Eli Lily has said it is to create 100 new jobs at its financial services branch operations in Cork.

Kay Flynn, senior finance director, European Shared Services, said: “The decision to locate this important operation in Cork was based on our track record here, the availability of a skilled workforce, language ability and the presence of a strong shared services base here in Ireland. We look forward to continuing our success in Ireland with this new venture. We recognise and appreciate the continued support and partnership of the IDA as we extend Lilly’s footprint in Ireland.”

Meanwhile, the 104 staff of Longford-based copper-cable manufacturer B3 Solutions will not now know until early next week whether their jobs are safe.

B3 Solutions, which has provided employment at its plant at Aghafad, near Longford town, for three decades, was placed into receivership last week by the Manchester-based B3 Cable Solutions.

The receiver Deloitte had set a deadline of midday yesterday for expressions of interest in taking over the company. However, he confirmed yesterday morning that it would be early next week before he could reveal any developments.

Sean Nolan of SIPTU said the receiver had refused to confirm to him whether any interest had been expressed though he said it might be seen as good news that Deloitte was allowing that extra time.

“It is more painful for the people who are left in limbo but it was better than being told at 12pm that their jobs were gone,” he said.


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