Ireland’s leading financial services group announces multi-million funds administration investment in Northern Ireland.
Invest Northern Ireland today welcomed a multi-million Euro investment by Bank of Ireland Group, Ireland’s leading financial institution, to establish a hedge fund centre of excellence in Belfast.
The new venture in Northern Ireland will service the rapidly growing offshore alternative investment funds market and specifically, the hedge fund segment, currently growing at 20 per cent per annum.
The landmark investment will establish Northern Ireland’s first funds administration business in the international financial services sector and will create 149 new, high value jobs for experienced accountants and skilled graduates over the next five years.
“The hedge funds centre of excellence will reinforce Northern Ireland’s reputation as a premier location for investment whilst playing an integral role in the growth of Bank of Ireland Securities Services offering to its international client base,” says Leslie Morrison, Chief Executive, Invest Northern Ireland. “This investment is particularly important as it will add value to Northern Ireland’s rapidly developing financial services sector.”
Brian Goggin, Group Chief Executive, Bank of Ireland adds: “We are very excited about the prospect of creating a sizeable presence in Belfast servicing the offshore hedge fund industry.”