Limerick
12 June 2017
Reporter: Drew Nicol

Northern Trust commits to Ireland


Northern Trust has committed to expanding its operations in Ireland with the addition of 400 new roles over the next five years.

Details on what areas of the business will be expanded are expected to be released in the near future. It is the fourth time the bank has significantly invested in its operations in Limerick.

The UK’s Brexit vote was not directly cited as a factor, but Ireland’s minister for finance, Michael Noonan, noted that the decision to do so was taken late last year, when the UK appeared to be pursuing a so-called hard Brexit, which would see it lose its financial services passporting rights, lessening the attractiveness of London as a base of operations.

Noonan said: “Northern Trust has had a presence in Limerick for a number of years and are now expanding their presence here further. I’m very proud of this endorsement of the people of Limerick. The access to markets, the skilled workforce and the quality of life in this region I’m sure are all positive influences in this decision.”

“In the wake of Brexit it’s important that we continue to add jobs to the local economy and having met with Northern Trust in London late last year, I’m grateful that they see Limerick as a key part of their future plans for their operations in Europe. I wish the company and all of their people further success in all of their endeavours.”

Catherine Duffy, general manager for Northern Trust’s Limerick office, said: “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, worldwide."

“We aim to create an inclusive, diverse workforce and recruit graduates from across the local region as well as experienced professionals from around the world.”

Northern Trust has had a presence in Ireland since 1989. The bank opened its Dublin office in 2000, and added its first Limerick office in 2007.

More Industry news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
BNY Mellon sees asset servicing fees growth
18 January 2018 | New York | Reporter: Zsuzsa Szabo
BNY Mellon’s asset servicing fees increased 6 percent year-over-year
Societe Generale Securities Services and OFI Asset Management have executed the first transactions via the IZNES platform on the Paris market
BBH to provide fund services for DSBI
17 January 2018 | Hong Kong | Reporter: Jenna Lomax
Brown Brothers Harriman & Co will provide custody and fund administration services to Daiwa SB Investments’ (DSBI) first Hong-Kong domiciled fund, the Japan high dividend stocks fund
Murex’s MX.3 goes live at Nationwide
17 January 2018 | London | Reporter: Jenna Lomax
Murex's MX.3 front-to-back risk platform has gone live for Nationwide Building Society's treasury business
Torstone Technology enters Norwegian market
17 January 2018 | London | Reporter: Becky Butcher
Torstone Technology has entered into the Norwegian market by connecting its Inferno platform to Verdipapirsentralen ASA, Norway’s central securities Depository
Tadawul initiates new measures for market efficiency
16 January 2018 | Riyadh | Reporter: Jenna Lomax
The Saudi Stock Exchange Tadawul has implemented new measures in an effort to raise market efficiency, boost investor access, security and liquidity
SWIFT and CSDs join forces on proxy voting DLT
15 January 2018 | Brussels | Reporter: Jenna Lomax
SWIFT and seven CSDs have partnered to explore how distributed ledger technology could be implemented in proxy voting and for digital assets
More Industry news