Credit Suisse relocates prime services to Dublin

Credit Suisse has moved its Prime Services business to Dublin employing 100 people across Prime Brokerage, Prime Financing and Securities Lending.

Global Custodian understands that the 100 new positions will comprise of existing staff being re-located and new appointments in the Irish capital. They include 40 trading, risk and capital professionals and 60 support roles.

The Dublin operation will handle the trading, capital and risk management for the business while the salespeople and relationship managers will remain in London due to client proximity, according to the Swiss bank.

Credit Suisse becomes the first non-EU bank to set up banking operations in Ireland.

“The broad talent pool and efficiencies that the capital city has to offer made the decision to deploy operations in Dublin an easy one,” said Tim O’Hara CEO of Global Markets, Credit Suisse.

“We have long admired Ireland’s commitment to and vision for the country’s future as a European financial services center and we are excited to establish our Prime Services business here.”

The branch will be located at Kilmore House in Spencer Dock, at the heart of the IFSC (Ireland’s Financial Services Centre).