Top US financial services firm to create 400 jobs in Limerick

A leading US financial services company is to more than double its workforce at its Mid-West operation.

Fund administrator Northern Trust is to take on another 400 employees at its Limerick base over the next five years. Jobs Minister Richard Bruton, who met company executives during a trade mission to the US, made the announcement yesterday.

“These are highly-skilled roles and the company will work with University of Limerick and the Limerick Institute of Technology in filling them,” he said.

“I commend my officials, the IDA and all involved in securing this investment. As we in Government continue to implement our plan for jobs and growth, I am determined to ensure that we can see more announcements like this around the country in the coming years.”

The Limerick office, with 300 workers on its payroll, is regarded as a fund administration centre of excellence. It provides administration and support to alternative, multi-manager and traditional investment managers, pension funds, multinationals, insurance companies and not-for-profit organisations.

Catherine Duffy, general manager for Northern Trust’s Limerick office, said the University of Limerick and the Limerick Institute of Technology would be a strong source of new graduate employees. The expansion is being supported by the Government through IDA Ireland.

Jobs will be available in traditional and hedge fund accounting, financial reporting, pricing, private equity, alternative asset administration, real estate administration, finance, IT, human resources and training along with corporate services.

Finance Minister Michael Noonan said: “I hope the success of Northern Trust in Limerick and its vote of confidence in the city will encourage other financial services companies to establish in the region.”

Northern Trust, a financial holding company founded in Chicago in 1889, has offices in 18 US states and 16 international locations. It has assets under custody of €3.5 trillion and assets under investment management of €540 billion.