It was announced this week that INDOS Financial Limited is expanding its operations centre in Enniscorthy, Wexford with a move to new premises and the creation of up to 15 new roles over the next two years.

Headquartered in London since launching in 2012, INDOS is an independent alternative investment fund depositary servicing over 115 funds across 70 clients. 

INDOS says it selected Ireland to expand its operations due to its leading position in the alternative fund servicing industry, the availability of a skilled and experienced workforce and its positive commercial environment.

The Irish office, jointly led by Padhraic McLaughlin, formerly of Citi Hedge Fund Services, and Micheal Reddy, formerly of IFS and BNY Mellon, is the core operational hub for the business, with the team performing fund oversight duties on behalf of its UK parent. INDOS currently employs 30 staff, of which 16 are based in Enniscorthy.

Speaking this week,  Minister of State at the Department of Finance and the Department of Public Expenditure and Reform with special responsibility for Financial Services and Insurance, Michael D’Arcy said, "I’m delighted to hear news of INDOS Financial’s plans to expand their operations centre here in Enniscorthy, creating some 15 new jobs. It demonstrates the company’s commitment to Enniscorthy and Co. Wexford and is testament to the availability here of well educated and experienced staff for the financial services sector. I congratulate Bill and his team and wish them continued success in their operations here in County Wexford."

INDOS founder, Bill Prew added, "We are delighted to be expanding into new, larger premises in Enniscorthy. Since 2013 we have built a strong team who enjoy an excellent work / life balance, whilst developing professionally through exposure to the variety of funds we service. We are committed to Enniscorthy as our base in Ireland and look forward to our continued growth here."

Source: www.businessworld.ie