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THE INVESTMENTS FUND company will be based in Dublin and has already filled 15 new jobs but said they hope to potentially create more than 100 jobs over time.
Minister for Finance, Michael Noonan announced the jobs creation by the Luxembourg based company, Clearstream, a worldwide provider of investment funds.
Owned by Deutsche Börse AG, it is one of the largest exchange organisations in the world and looks after 2,500 financial institutions in more than 110 countries.
Jeffrey Tessler, CEO of Clearstream, explained why they chose Ireland:
Clearstream selected Ireland for this investment as a result of the country’s excellent reputation as a domicile and servicing centre for the hedge funds industry on top of the excellent talent pool for this particular industry.
Welcoming the announcement from Brussels, where he is attending an EU Trade Council meeting, the Minister for Jobs, Enterprise and Innovation, Richard Bruton said:
A key part of the Government’s Action Plan for Jobs is to attract leading players in the financial services sector and increase employment by 10,000 by 2016, and over the last number of months we have seen several significant jobs and investment announcements in this sector. The challenge now is to build on this success.
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While new jobs are welcome its no surprise to see most of the jobs being created are in the financial sector. Can anyone say no regulation and low low tax rates. I think Max Keiser is right in saying that Ireland is soon to be the fraud and corruption capital of the world.
Do a little research into what hedge fund administrators do before blindly trashing this announcement. This is an area we are massively excelling in with jobs all over the country regularaly that are not being announced.
We are literally one of the centres of the world now for fund administration and servicing. It’s an area we are winning investment in on a massive scale.
Jobs created not being announced? Pull the other one.
What’s not being announced is the job losses in 1′s, 2′s 5′s and 10′s all over the country.
Even the headline here is misleading about the jobs actually created (15) as opposed to the (100) “hoped” for.
The thing this Gov does best is spin at this stage.
Check jobs.ie for jobs in fund administration before you let your angry daftness take over. Kilkenny, cork, Galway, Dublin all have vacancies in fund administration. That’s what I was referring to.
Christ the cloud of misery over the comments on this site is pathetic.
Snooch,
You are mot allowed br positive on this website !!! You should know that by now.
The hurler on the ditch is a much cosier place to be.
Be careful criticising the harbingers of doom, as the journo-police don’t like that either !!!!!!
LOL that’s it lads. You’ll be telling us next that a few fund admin jobs is a great return on the billions we have charitably donated to prop up the returns on said funds. Jog on.
Ok Rommell, for clarity, can you give me a few examples of hedge funds administered in Ireland that is being propped up by charitable donations from the Irish government? go on? consult your vast database of misinformed crap there? jog on yourself, I’m sure there’s some people who need ranting at about enda Kenny somewhere
I was referring to funds in general. But I guess the irony of the Government heralding these jobs while continuing to pay out billions, and heaping more debt on our children, to funds which no doubt use this company, is lost on you.
Good man. Generic soundbite response
Your linking this story to debts being piled upon our children’s heads for future generations is as tenuous as me arguing that people not paying the household charge being the cause of our children having debts.
Good news stories must tear people like you up.
@ Derek durkin. what do you mean, no regulation? do you know how the regulation of funds, and fund admin companies works ?
Im all for the announcement of jobs but I dont see the point in celebrating jobs that may or may not be created. When we have the amount of unemployed in this country that we do and even taking out those that if work was in bed would sleep on the floor types, 15 jobs is nowhere near sorting the problem.
have your say