24th November 2017
Management Company business opens new Kilkenny office
Carne, the Irish-founded premier global provider of fund management company solutions to the asset management industry, has today announced a significant expansion of its operations, creating 50 jobs at a new regulatory technology, development and operations centre of excellence in Co. Kilkenny
The jobs, which are supported by the Department of Business, Enterprise, and Innovation through Enterprise Ireland will be management and graduate positions in compliance, risk management, technology and operations. The expansion enables Carne to further strengthen its client offering in the investment fund governance solutions sector as it experiences rapid growth due to greater regulation and increasing demand from investors for independent oversight of assets.
Welcoming today’s announcement Minister for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen TD, said “Today’s announcement that Carne is creating 50 new jobs is very positive news, not just for Kilkenny, but for the South East Region. A key priority of the Government, through our Regional Action Plans for Jobs, is to create jobs across all the regions of Ireland. As an Irish founded company competing at the highest global level within the asset management industry, Carne is to be commended for demonstrating its commitment to Ireland by establishing a new base in Kilkenny. All jobs created have a positive knock on effect for the wider community. I wish John Donohoe and the team at Carne every success in the future.”
Founded in 2004 by John Donohoe, Carne is the largest independent provider of fund management company services in Ireland and a leading global provider with assets of more than US$60bn under management. The organisation has more than 400 clients and employs 150 people currently. Carne has nine offices spread across major fund domiciles and asset management locations including Ireland, the United States, Luxembourg and the United Kingdom.
Minister of State for Financial Services, Michael D’Arcy TD, said: “The decision by Carne to locate 50 new jobs at a new office in Kilkenny is extremely positive news for the region. Kilkenny has undergone huge growth in recent years with an influx of impressive businesses establishing a presence in the county, including in the area of financial services. Given the availability of talent and its proximity to Dublin and other key Irish cities, it is no surprise that the South East was the location of choice for Carne when it came to setting up its new office. Broadening the distribution of financial services investment across the country is a key priority for me under the Government’s IFS2020 strategy. I commend Carne and wish them well with this new endeavour.”
Founder and CEO of Carne, John Donohoe, said: “This is an exciting development for Carne in Ireland and for the business globally. The Kilkenny office will be one of our centres of excellence for our bespoke regulatory technology, development and operations teams and will further differentiate us as the market leader in providing our clients with timely access to expert information in regulation, risk management and compliance. The independent fund management solutions business is growing, fuelled by a combination of factors such as cost pressures in the asset management industry, growing regulation and demand for greater oversight. Most notably, as Brexit approaches, UK asset managers will need to make alternative arrangements to future proof the management of their EU products. This presents opportunity for Ireland and Carne is scaling up in part to ensure it is sufficiently prepared to meet market demands dictated by Brexit.”
Julie Sinnamon, CEO, Enterprise Ireland, said: “Ireland has a significant presence in the international financial services industry and Enterprise Ireland is committed to working with Irish companies with global ambition in this sector, providing innovation supports and helping to grow their businesses in overseas markets. We are delighted to support the creation of 50 new jobs by Carne which has chosen Kilkenny as its new ‘Centre of Excellence’. Choosing regional locations as part of expansion plans allows businesses to access a wider pool of talent and creates jobs locally. Enterprise Ireland looks forward to continuing to work closely with Carne and wishes the team every success for the future”.
With 150 people across 9 global locations servicing in excess of 400 clients and $500bn in assets, Carne is the premier global provider of Fund Management Solutions to the asset management industry. Carne’s comprehensive solutions include European Management Companies, fund platforms, designated persons, outsourced risk and compliance functions, company secretarial, global registration of investment funds and anti money laundering reporting officers and regulatory reporting services.
For more information or for media interviews, please contact:
Cathal Barry / Morwenna Rice
Drury Porter Novelli
01 260 5000 / 087 227 9281 / 086 194 0069
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