Butterfield Fulcrum will increase its work force in Dublin city centre to 100 people.
The investment is supported by the Irish Government with the aid of IDA Ireland.
Butterfield Fulcrum initially established an operation in Ireland in 2009, and it has since experienced strong growth. At the time it envisaged the creation of 40 jobs, however, based on upward projections will now grow its Irish workforce to 100. The company has recently been taken over by leading fund industry executives in partnership with BV Investment Partners. Current activities undertaken in Dublin include fund administration, business development and compliance. The new jobs will be in fund administration, finance and relationship management.
International financial services is a sector we must target for ambitious growth if we are to create jobs and grow our way out of our difficulties, Minister for Jobs, Enterprise and Innovation, the companies that announced the expansion, said in a statement. We already have substantial investment and presence here from major global companies, and have built up a skill-base and reputation in this sector, but we must build on these strengths to enable more domestic and international firms establish and grow here.
Glenn Henderson, CEO of Butterfield Fulcrum, adds: We are delighted to see this further creation of jobs in Dublin which has come about as a result of the success of Butterfield Fulcrums operations here. Our current expansion in Ireland is in no small part due to the availability of a highly talented work force. I would like to take this opportunity to thank the Irish Government and IDA Ireland for the excellent support provided to our company, and look forward to our continued success in Ireland.
Barry OLeary, CEO of IDA Ireland adds: Irelands international financial services sector is an integral part of Irelands Foreign Direct Investment portfolio, and todays announcement of Butterfield Fulcrums expansion will further enhance Irelands profile within the hedge fund industry globally. Ireland is a key strategic location for the hedge fund industry, and further growth in this sector is expected. I wish the management team of Butterfield Fulcrum every success in the implementation of this project.
(CM)