6th March 2015
Second Expansion for Leading Fund Administrator Underlines Commitment to Local Region
An Taoiseach, Enda Kenny TD; the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD; and Clive Bellows, Country Head Ireland at Northern Trust (Nasdaq: NTRS); today (Friday) announced that the company is to expand its operations in Limerick by creating up to 300 new jobs over the next three years.The expansion is supported by the Department of Jobs through IDA Ireland.
The creation of 300 new jobs for Limerick underlines Northern Trust’s commitment to Ireland, and is the second investment in jobs announced by the company in the last three years. As a result of its continued and sustained business expansion, Northern Trust’s Limerick operations are now expected to reach more than 1000 employees by the end of 2017. This week it extended its second office location in the city with space for an additional 250 new desks.
Making today’s announcement, An Taoiseach Enda Kenny TD said: “I’m delighted to welcome Northern Trust’s announcement of 300 new jobs. This is great news for Limerick and the mid-west region, and for those looking for work or new opportunities in Limerick and surrounding areas. The Government is working to secure the recovery for the whole country and the financial services sector is a major employer and a key part of our recovery plan. To help grow the sector and create more jobs the Government will publish a new plan for the sector next week."
Minister Bruton, who has met senior Northern Trust executives on a number of occasions since taking office, said: “Jobs are now growing in every region – but at the heart of our Action Plan for Jobs is accelerating that growth right across the country. We are putting in place a range of measures in order to deliver on this, and today’s announcement that Northern Trust is creating 300 extra jobs is a huge boost for Limerick and the broader mid-west region. I wish Clive and his team every success with this project and look forward to working with them in the future”.
Northern Trust has had a presence in Ireland since 1989 and opened its Dublin office in 2000, which now employs more than 500 people. Its first Limerick office was opened in 2006 and also employs more than 500 people. The offices support Northern Trust clients such as leading alternative, multi-manager and traditional investment managers, pension funds, multi-nationals, insurance companies and not-for-profit organisations across the globe.
“We are pleased to announce the continued expansion of our Limerick office as a result of sustained business growth,” said Clive Bellows, country head Northern Trust Ireland. “We gratefully acknowledge the support of IDA Ireland and the Irish Government as we focus on growing our Limerick office over the next few years, which together with our Dublin operations, will continue to position Northern Trust in Ireland as a key centre of fund administration.”
IDA Ireland Executive Director Dermot Clohessy said: “This is excellent news. It shows serious commitment by Northern Trust to its Irish operations and is a real vote of confidence in Limerick and Ireland as a location eminently suitable for global companies in the financial services sector. I wish Northern Trust every success with this expansion. The company was already a substantial employer in Limerick and adding these 300 jobs will have a very significant positive impact on the economy of the region.”
“The continued expansion of our Limerick office is a testament to our strong relationships and commitment to the mid-west region,” said Catherine Duffy, head of Northern Trust’s Limerick office. “In addition to recruiting graduates from the local region, we are also looking for experienced professionals from across the world, or perhaps those looking to return to Ireland. The expansion of our second building in Limerick will offer greater capacity to continue to support this sustained acceleration of our business in Ireland.”
Northern Trust, celebrating its 125th anniversary this year, is one of the world’s leading financial services institutions. It provides investment management, asset and fund administration, banking and fiduciary services to corporations, institutions and affluent individuals worldwide.
For further information about jobs available at Northern Trust’s Ireland offices or to apply, please visit Northern Trust’s dedicated careers page.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. Chicago-based Northern Trust has offices in 19 states, Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under investment management of US$934.1 billion. For 125 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com and follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures
About IDA Ireland
Ireland’s inward investment promotion agency, IDA Ireland (Industrial Development Agency) is responsible for the attraction and development of foreign investment in Ireland.
Northern Trust - Camilla Greene, +44 (0) 207 982 2176, +44 (0) 7894797513, Camilla_Greene@ntrs.com
IDA Ireland - Kevin Sammon +353 87 6188564, Ellen Lynch + 353 87 4112084
Department of Jobs, Enterprise and Innovation - +353 (1) 6312200, email@example.com
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