Financial services firm Northern Trust to add up to 400 new jobs in latest major expansion
Company celebrates its 10th year in Limerick city
Northern Trust is to further expand its operations in Limerick by adding up to 400 new jobs over the next five years.
The expansion by the financial services firms - supported by the IDA Ireland - is the fourth time the company has significantly expanded its operations in Limerick.
"The creation of up to 400 new jobs for Limerick underlines Northern Trust’s commitment to Ireland," said Clive Bellows, country head of Northern Trust, Ireland.
Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor TD said that "as a Government we have been working hard to make Ireland an attractive location to do business, with a minimum of administrative hurdles".
"We value foreign direct investment from companies like Northern Trust which is firmly in the knowledge based sectors. That is where we have strong competitive advantage.”
Northern Trust is one of the world’s leading financial services institutions and has had a presence in Ireland since 1989.
Opening its Dublin office in 2000, the company opened its first Limerick office in 2007 with 19 staff.
At present, Northern Trust employs 1000 people across its two sites in Limerick at Hamilton House and City East Plaza.
Today’s announcement will also be one of the last official engagements of Michael Noonan in his role of Minister for Finance.
"I’m very proud of this endorsement of the people of Limerick and its surrounds. The access to markets, the skilled workforce and the quality of life in this region I’m sure are all positive influences in this decision," he said.
In the wake of Brexit it’s important that we continue to add jobs to the local economy and having met with Northern Trust in London late last year I’m grateful that they see Limerick as a key part of their future plans for their operations in Europe."
IDA Ireland CEO, Martin Shanahan said that Northern Trust's ability to attract and retain talent "is proof positive that Limerick and Ireland is a location that is highly attractive and suitable for global companies in the financial services sector".
"This investment also reinforces Ireland’s reputation as the funds capital of Europe. This expansion is a clear vote of confidence in Ireland’s track record, pro-business environment, highly skilled talented workforce and commitment to the European single market," he said.