Wednesday, September 19 11:43:20
Wall St listed financial services group, Northern Trust, is to create 400 jobs at its Limerick operation over the next five years in a major expansion programme here.
The expansion is supported by the Irish Government through IDA Ireland.
Northern Trust Corporation, founded in Chicago in 1889, is one of the world's leading financial services institutions. It provides investment management, asset and fund administration, banking and fiduciary services to corporations, institutions and affluent individuals worldwide.
The group has had a presence in Ireland since 1989 and opened its Dublin office in 2000.
To facilitate the expansion of Northern Trust in Ireland, Limerick was chosen in 2006 as the second Irish location for its fund administration business, which to date employs more than 300 people and is based at Hamilton House, on the National Technology Park.
Minister for Jobs, Enterprise and Innovation Richard Bruton met senior executives of the company, including President and Chief Operating Officer William Morrison, on a recent trade mission to the United States.
Making today's announcement, Minister Bruton said: "Today's announcement that a world-leading financial services company is expanding its operations in the mid-west with the creation of 400 new jobs is great news for Limerick and for Ireland. Financial services forms a crucial part of the Government's Action Plan for Jobs, and the news that Northern Trust, a major international player in this industry, is expanding in a key regional location is a major vote of confidence for Ireland. These are highly-skilled roles, and the company will work with University of Limerick and the Limerick Institute of Technology in filling them. 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."
"Limerick is a fund administration centre of excellence for Northern Trust supporting organisations such as leading alternative, multi-manager and traditional investment managers, pension funds, multi-nationals, insurance companies and not-for-profit organisations," said Catherine Duffy, general manager for Northern Trust's Limerick office. "We recently expanded our Limerick office and are currently recruiting high calibre graduates from the local universities and colleges, such as University of Limerick and the Limerick Institute of Technology, with which we have strong relationships, as well as experienced professionals from across the globe."