300 new financial services jobs for Limerick

Financial services company Northern Trust Corporation is to create up to 300 jobs in Limerick in a fund administration centre, its second in Ireland.

In 2000, the company established a fund services division, Northern Trust (Ireland) Ltd in Dublin which employs 400 people. It has now chosen Limerick as the location for its second fund administration business, based at Hamilton House, Phase 2, in the National Technology Park.

Minister for Enterprise Micheál Martin said: "We are delighted with Northern Trust's decision to place this strategically-important fund administration business here. It will considerably increase the profile of the mid-west region as a location for financial services activities."

Northern Trust Corporation, founded in Chicago in 1889, specialises in providing asset servicing, asset management, wealth management and banking solutions to institutional and personal investors worldwide. It is one of the world’s largest global custodians and asset managers, a leading fund administrator in Europe and one of the largest wealth managers in the United States.

Vic Holmes, managing director of Northern Trust (Ireland) Ltd and head of Northern Trust’s offshore fund administration activities said: "We are making a multi-million euro investment in a growth area of our business and anticipate that this will lead to the creation of up to 300 or more high level jobs."