Taoiseach welcomes 40 jobs for Westport

Forty new jobs are to be created in Westport, Co Mayo in a company offering professional training to the banking sector, it was confirmed today.

The Lafferty Group is to locate an educational and publishing operation in the town, with the support of IDA Ireland.

The company is a banking education, research and publishing company established in London by Irishman Michael Lafferty.

Recruitment enquiries should be made to: www.lafferty.com/Careers

Speaking to MidWest Radio, Taoiseach Enda Kenny said this jobs announcement is a huge boost for Mayo.

"So what's going to be based in Westport will be a significant development, if you like, for the financial services industry in Ireland," he said.

"This academy, designed by Michael Lafferty, with a number of other international experts, will be based in Westport, and the content for the worldwide distribution of information for the retail banking sector will come from this academy."

Mr Lafferty, chairman of the Lafferty Group and co-chair of the academy said: "The growing consensus on both sides of the Atlantic that universal banking is a failed concept has been a powerful force driving establishment of the Academy.

"We believe that retail banking is rapidly becoming a distinct sector in its own right and that it is fundamentally different from corporate and other forms of wholesale banking.

"Specialist retail banking education is not provided anywhere in the world – despite the fact that retail banking is the main source of bank profits. The IARB has been created in the belief that retail banking should be a profession, like accountancy and law and offers similar professional education programmes and examinations. The guiding philosophy of the IARB is that banks should get away from pushing products at customers and instead focus on the overall customer relationship."

Welcoming the move to Westport, Mary Buckley, head of regional development, IDA Ireland said: "IDA Ireland looks forward to working with the Lafferty Group as it grows its business from Ireland."