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Dublin: 14 °C Wednesday 1 October, 2014

Dublin Clearstream branch to create 100 jobs

The Dublin office will support Clearstream’s move into the hedge fund administration market.

Barry O’Leary CEO, IDA Ireland, Minister for Finance, Michael Noonan, Jeffrey Tessler, CEO Clearstream at the announcement today.
Barry O’Leary CEO, IDA Ireland, Minister for Finance, Michael Noonan, Jeffrey Tessler, CEO Clearstream at the announcement today.
Image: Clearstream

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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