Monday 22 April 2019

IFSC head Bruton gears up for trips to push business in Ireland

IFSC csar John Bruton
IFSC csar John Bruton

Laura Noonan

IFSC tsar John Bruton is gearing up for a series of trips to European and US hotspots in a bid to dispel damaging myths about doing business in Ireland.

The former Taoiseach this week confirmed that he would soon visit Frankfurt, Paris, New York and Boston in his guise as head of IFSC Ireland.

Largely funded by banks and insurers, IFSC Ireland's mandate is to "promote Ireland as a location of choice for international financial services".

Mr Bruton has previously made trips to the Gulf and the Far East targeting specific industries like funds management, but he said the upcoming trips would target financial services generally.

"There are a lot of misapprehensions about Ireland at present, there's a job to be done in explaining the realities of the situations here, so I'll probably spend a lot of time doing that," Mr Bruton said.

He added that while that work would have traditionally been done by the Government, politicians were likely to be "otherwise engaged" over the coming weeks as they fight it out in the election.

News of Mr Bruton's upcoming trips comes days after it emerged that the European Commission is probing his appointment to the IFSC job and another role with a Brussels consultancy.

The EC claims Mr Bruton should have informed them of the new roles before taking up the jobs, since it is less than two years since he left his position as the EU's ambassador to the US.

Earlier this week, Mr Bruton said he was "completely unaware" that he had any obligation to get prior approval from the EU. He has now sent them full details of his work and is awaiting further correspondence from the commission.

Irish Independent

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