Business Irish

Wednesday 7 December 2016

Financial services firms buck recruitment trend

Published 15/12/2010 | 05:00

Barry O'Leary,
CEO of the IDA,
making a point at
a press
conference
where he
announced the
IDA is on target to
achieve foreign
direct
investments,
flanked by Batt
O'Keeffe, Minister
for Enterprise,
Trade and
Innovation, and
Liam O'Mahony,
IDA chairman
Barry O'Leary, CEO of the IDA, making a point at a press conference where he announced the IDA is on target to achieve foreign direct investments, flanked by Batt O'Keeffe, Minister for Enterprise, Trade and Innovation, and Liam O'Mahony, IDA chairman

FINANCIAL services companies are recruiting in big numbers and the Irish Financial Services Centre is seeing particularly strong demand for staff, IDA chief executive Barry O'Leary said yesterday.

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Mr O'Leary, who was giving evidence to an Oireachtas committee, noted that US bank Citi and accountancy giant Accenture had both announced hundreds of jobs recently.

"There is buoyant recruitment in the Financial Services Centre," Mr O'Leary told the joint committee on enterprise, trade and innovation.

Other areas looking for employees include the software and computer games industry, where there is a shortage of programmers with five-to-seven years' experience, Mr O'Leary added.

The education system needs to "react to where the employment is", he added without giving more details.

Retrenchment

Ireland has lost thousands of jobs in the technology sectors as foreign companies retrench due to the recession.

Global foreign direct investment plummeted 18pc in 2008 and 30pc last year.

Still, the IDA backs almost 1,000 companies here which export goods worth a combined €110bn, or 70pc of the country's total exports. Those companies employ 240,000 directly and indirectly.

The agency has recently opened an office in Singapore and is set to open another one in Bangladesh next month as it targets companies in emerging markets hoping to shift production to Europe.

The IDA is targeting service companies which can create employment quickly, Mr O'Leary added. The agency is due to reveal next month how many jobs were lost in 2010.

The financial crisis has not done Ireland's reputation much good, he said. "There is no doubt that Ireland's brand has suffered in the international media," he added.

Irish Independent

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