Cutting edge technology opens up bright new field of research
A RELAXED Brian Cowen officially opened a €16m research and development unit at Citi Bank’s headquarters in the Irish Financial Services Centre yesterday.
The centre will employ 40 by the end of the year in a project which hopes to develop complex formula known as algorithms to detect mathematical patterns which will help investors and combat money laundering.
The IDA-funded research will be carried out by Citi together with Microsoft, Cisco and University College Dublin. The Taoiseach, who cracked several jokes during a speech to Citi staffers, said his department is also looking at plans to establish a “green international services centre” in the IFSC to attract companies specialising in carbon trading and other financial services which can be used to help the environment.
At the opening were Aidan Brady, CEO of Citi Dublin, Taoiseach Brian Cowen, and Francesco Vannid'Archifari, head of Citi's Global Transaction Services.