Global hedge fund administrator HedgeServ is to create 150 new jobs in Cork, bringing the headcount at its Cork operation to more than 200 in the coming years.
HedgeServ already employs 380 people in Ireland and has been operating in Dublin since 2008.
The 150 new jobs will be based at the company’s state-of-the-art facility in City Gate Park in Mahon, Cork, where 50 people were recently recruited.
“The Cork area is rich with highly educated, talented industry professionals,” said Jim Kelly, chief executive of HedgeServ.
“The quality of the talent available in Ireland has enabled HedgeServ to deliver the highest quality of service to our clients. This has been recognised in industry surveys and is the key to our rapid growth. IDA Ireland has provided a great support to us in assisting our business to grow in Ireland.”
HedgeServ currently services more than US$170bn of assets under administration and employs 500 professionals across its offices in New York, Dublin, London, Chicago, Boston and Grand Cayman.
The jobs were announced by Taoiseach Enda Kenny, TD, who said they will be a welcome boost to the local economy.
“The Government continues to have a relentless focus on jobs and is determined that 2014 will see us build on the 1,200 jobs a week created in 2013,” Kenny said.
The 150 new jobs come hot on the heels of an earlier 50 new jobs announced by IT services firm Westbourne IT Global Services.