Deutsche Bank to create 700 jobs in Ireland

Deutsche Bank — Europe’s largest financial institution — is creating 700 jobs as part of a major expansion of its Irish operations.

Deutsche Bank to create 700 jobs in Ireland

The Frankfurt-headquartered bank, which employs 98,000 people worldwide, is to create a regional hub and centre of excellence at a 100,000 sq ft facility in Dublin’s Eastpoint Business Park.

The move will boost Deutsche’s Irish-based workforce from 330 to just over 1,000. Just four years ago, the company (which has had a presence in Ireland since the early 1990s) only employed 165people here.

The new jobs — hiring for which will start in the new year — will focus on group technology and operations and global transaction banking; and will target everyone from Leaving Cert level to Masters Degree; with those made redundant from the pillar banks also expected to be tempted by the opportunity.

Hiring should be filled by 2017.

Founded in Berlin in 1870 to promote and facilitate trade relations between Germany, other European countries, and overseas markets, Deutsche Bank employs 100,000 staff in more than 70 countries.

Management at the firm said it is focused on recruiting the best talent in Ireland as it already has enduring relationships with local universities which it will continue to nurture.

Speaking yesterday, IDA Ireland chief, Barry O’Leary, noted that the financial services sector is a key target area for job creation and said such a statement of intent from a large player, like Deutsche, “will help Ireland win more business in this area”. He said the fact that Deutsche has signed a 15-year lease at Eastpoint shows its commitment to Ireland.

Both Jobs Minister Richard Bruton and the Irish Banking Federation called the news a vote of confidence in Ireland’s financial services sector.

Swiss food and beverage multinational, Nestlé also announced the creation of 1,900 job “opportunities” for young people across Ireland and Britain over the next three years. More than 600 opportunities will be available each year across Ireland and Britain, across all areas of the business — from factory floor to management.

According to Deirdre O’Donoghue, country manager at Nestlé Ireland: “Sadly young people in Ireland are stuck in a catch-22 situation. They can’t get a job without experience, but can’t get experience without a job. Companies need to help young people escape from this trap.”

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