Financial Services Company deepens its commitment to Ireland increasing its workforce here to 100
Minister for Jobs, Enterprise and Innovation, Richard Bruton, T.D., today (Thursday) announced that Butterfield Fulcrum, a leading fund administration company, is to increase its workforce in Dublin city centre to 100 people. The investment is supported by the Irish Government with the aid of IDA Ireland.
Butterfield Fulcrum initially established an operation in Ireland in 2009 and it has since experienced strong growth. At the time it envisaged the creation of 40 jobs, however, based on upward projections will now grow its Irish workforce to 100. The company has recently been taken over by leading fund industry executives in partnership with BV Investment Partners.
Current activities undertaken in Dublin include fund administration, business development and compliance. The new jobs will be in fund administration, finance and relationship management.
Announcing the expansion, Minister for Jobs, Enterprise and Innovation said:
"International financial services is a sector we must target for ambitious growth if we are to create jobs and grow our way out of our difficulties.
We already have substantial investment and presence here from major global companies, and have built up a skill-base and reputation in this sector, but we must build on these strengths to enable more domestic and international firms establish and grow here.
"While the sector globally is going through some difficulties, this can itself create opportunities for Ireland. I am determined to ensure that we have ambitious policies in place to take full advantage of the opportunities that exist in financial services to achieve growth in the economy and get people back to work".
Commenting on the announcement Glenn Henderson, CEO of Butterfield Fulcrum said, ‘We are delighted to see this further creation of jobs in Dublin which has come about as a result of the success of Butterfield Fulcrum’s operations here. Our current expansion in Ireland is in no small part due to the availability of a highly talented workforce. I would like to take this opportunity to thank the Irish Government and IDA Ireland for the excellent support provided to our company and look forward to our continued success in Ireland.'
Barry O’Leary, CEO of IDA Ireland said, ‘Ireland’s international financial services sector is an integral part of Ireland’s Foreign Direct Investment portfolio and today’s announcement of Butterfield Fulcrum’s expansion will further enhance Ireland’s profile within the hedge fund industry globally. Ireland is a key strategic location for the hedge fund industry and further growth in this sector is expected. I wish the management team of Butterfield Fulcrum every success in the implementation of this project.’