The Government has said it will take steps to increase the number of IT graduates as 80 new jobs were announced in an equity software firm in West Cork.

The positions will be filled over the next two years at Clonakilty-based Global Shares, which has been expanding in different parts of the world and securing major clients such as GSK, which use the company’s services to help manage a firm’s equity and other options for staff.

Recruitment starts immediately and Minister of State for Financial Services and Insurance, Michael Darcy, said at the Clonakilty office that upskilling and retraining of professionals from related and other sectors would be the focus of government generally.

Global Shares CEO Tim Houstoun said the jobs were a result of growth of the business, including winning six FTSE 100 companies as clients.

It now has 250 clients in 25 countries. Mr Houstoun said that was down to those working in the company as well as leading software and funding, including private shareholders and the support of Enterprise Ireland, who were interested in “the long game”, even though he also referred to the shortage of IT graduates.

“We still can’t get enough IT graduates,” he said. “So we have a satellite office in Lisbon with 12 developers.

“There isn’t enough IT graduates and if you compare the size of the financial service sector to even the meat sector, I think this is 10 times the size.

“For a lot of people I speak to, I just think it’s essential.”

He said the company would continue to try and win five or six new accounts a month, having opened five offices this year including in Cork, Edinburgh and Hong Kong, although he stressed “100%” that it would stay anchored in Clonakilty.

Mr Darcy said there was a “challenging workplace market” and getting and retaining staff for regional companies could be an issue.

He said partnerships between third-level institutions and those firms could help “fill that void”.

“There are people all over the country with other skills who could be doing those jobs.”


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