Northern Trust is to expand its fund administration operations in Limerick by creating up to 400 new jobs over the next five years.
Minister for jobs, enterprise and innovation, Richard Bruton, and Clive Bellows, country head for Ireland at Northern Trust, said that Northern Trust 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.
Bruton met senior executives of the company, including president and COO William Morrison, on a recent trade mission to the US, and said that the news was a “major vote of confidence” for the country.
“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.” ??
The newly created roles will be in traditional and hedge fund accounting, transfer agency, financial reporting, pricing, custody, private equity, alternative asset administration, client reporting, and real estate administration.
