Limerick is getting a 400-job Brexit bounce from an international finance company diverting jobs from Britain to Ireland.
The expansion marks the fourth time Northern Trust has significantly expanded its operations in Limerick since it set up at the National Technological Park with 19 staff in 2007.
The company employs 1,000 people across its two sites in Limerick, at Hamilton House and City East Plaza.
Clive Bellows, country head of Northern Trust, said the creation of up to 400 jobs for Limerick underlines its commitment to Ireland.
“We have seen growth in the scale and operation of our Irish business over the years and the continued expansion of our office in Limerick reflect this,” he said.
“We gratefully acknowledge the support of IDA Ireland and our local partners such as the University of Limerick and the Limerick Institute of Technology, where we have strong relationships, and recognise the proactive engagement we have with Irish Government representatives, and the local funds industry in Ireland.”
Finance Minister Michael Noonan said: “Today’s announcement demonstrates the added-value of investing long term in Ireland.
“Northern Trust’s initial presence in Dublin and subsequent expansion into Limerick is a proven model across all sectors of our economy — illustrating the excellent accessibility and availability of talent, and as a source of high-value and sustainable employment in the regions.
“The Government will continue to work closely with industry to implement the IFS 2020 Strategy in its aim to promote Ireland as the European location of choice for specialisation and innovation in financial services.”
IDA Ireland chief executive Martin Shanahan said Northern Trust has shown fantastic growth over its 10 years in Limerick and is now one of the largest employers in the mid-west region.
“The company’s ability to attract and retain talent is proof positive that Limerick and Ireland is a location that is highly attractive and suitable for global companies in the financial services sector,” he said.
“This investment also reinforces Ireland’s reputation as the funds capital of Europe. This expansion is a clear vote of confidence in Ireland’s track record, pro-business environment, highly skilled talented workforce, and commitment to the European single market.”
Catherine Duffy, general manager for Northern Trust’s Limerick office, said: “We aim to create an inclusive, diverse workforce and recruit graduates from across the local region as well as experienced professionals from around the world.”
Northern Trust Corp is a leading provider of wealth management, asset servicing, asset management, and banking to corporations, institutions, affluent families, and individuals.
Founded in Chicago in 1889, Northern Trust has offices in the US in 19 states and Washington, DC, and 22 international locations in Canada, Europe, the Middle East, and the Asia-Pacific region.
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