Finance remains a key obstacle for businesses in Europe wanting to invest in IT but, with the establishment of Dell Financial Services’ EMEA HQ in Dublin, Dell hopes to break down this barrier.
“Dell Financial Services is just one more way in which Dell is supporting and contributing to the success of our customers. We are delighted to be able to deliver this service from Dublin and I look forward to working with the team in the months and years ahead to grow and scale the business,” said Cormac Costelloe, general manger of Dell Financial Services, EMEA.
For the past 18 months, Dell has been building a team of financial services experts in preparation for the European launch today. Established in 1997, Dell Financial Services funds US$4bn-worth of Dell and non-Dell IT equipment for its customers in more than 50 countries.
Dell has invested €400m in its financial services roll out in Europe and the new EMEA HQ will be based in Cherrywood Business Park in south Dublin. The platform will be supported by a team based in Dell Limerick and will offer commercial loans and leases on Dell products to small, medium and large enterprise customers in Ireland, the UK, Germany, Austria, Switzerland, Belgium, the Netherlands and Luxembourg.
Dell Bank International
This development follows the awarding of a banking licence to Dell Bank International Ltd by the Central Bank of Ireland at the end of June this year.
“Now that we have secured a full commercial bank licence, we are in a position to offer our customers finance for their IT solutions. With the access to finance barrier removed, customers can focus on investing in their business rather than worrying about the infrastructure to run it,” said Costelloe.
More jobs to follow
As well as bringing more Europe-wide business to Ireland, this announcement also heralds 200 new jobs at the Cherrywood location, expected to grow to 300 within three years.
“I am delighted that Dell is creating 200 jobs by selecting Ireland as the location for this strategic venture,” said An Taoiseach Enda Kenny, TD. “At a time when we are working to rebuild the economy and the financial services sector, it is a great vote of confidence for us to have a company of Dell’s calibre select Ireland as the home for its financial services business.”
Aongus Hegarty, Dell’s president of Europe, Middle East and Africa, noted this example of continued investment in Dell’s current operations in Cork, Dublin and Limerick and said the plan is to build on this financing business to offer solutions to customers throughout Europe.