Launch of new IFSC promotional group put back again to new year
THE long-awaited launch of IFSC Ireland has been delayed until after Christmas, as IFSC tsar John Bruton gets to grips with his new beat.
Charged with promoting Ireland's financial services industry on the global stage, IFSC Ireland was initially expected to launch in September.
The timeline was then pushed out until October, but sources this weekend said the launch was "very unlikely to happen this side of Christmas".
The delay is understood to stem from Mr Bruton's desire to "get to grips" with the sizeable task.
"When it's launched, he wants to be able to answer questions on the various things, to really know his subject," one source said.
Mr Bruton's autumn schedule includes a trip to Hong Kong with the funds management industry, a trip to the Gulf states on general banking and financial services, and an insurance trip to London.
"He's definitely already working," one source said, pointing to extensive briefings with industry and the IDA.
An industry steering committee, that was due to assist Mr Bruton in his task of rebranding Ireland's financial hub and securing new business, has yet to be appointed. The timescale for convening it is unclear.
The IFSC has managed to maintain employment levels at about 25,000, despite the global financial crisis, but concerns about the reputational damage done to Ireland by the banking collapse have triggered fears for its future.