Bank of America Merrill Lynch
Custom House, Dublin. Image: Kanuman/Shutterstock

BofAML drawing up plans to add 100 staff to Dublin office

20 Feb 2017

Bank of America Merrill Lynch could be about to add 100 staff in its Dublin office, which, if confirmed, would increase its workforce here in Ireland to more than 700.

Bank of America Merrill Lynch (BofAML) has held a considerable place in Irish banking – and the world – for the past number of years, particularly following the financial crash of 2008.

The company is reportedly planning to boost its presence in its Dublin offices in the city centre and Leopardstown, with the potential to create as many as 100 jobs.

According to The Irish Times, sources close to the deal said that executives from the US headquarters of BofAML travelled to Ireland to discuss the job creation initiative with the Irish Government.

While BofAML has declined to comment on the news, an increase of 100 staff to its operations here in Dublin would see its Irish workforce grow to more than 700.

The Irish division of BofAML International includes sectors such as wider global transactions, tech and aircraft leasing.

Will maintain London presence

One of the sources close to the deal has denied that the increase in staff here is related to the ongoing fallout of Brexit.

Despite suggestions that some of its rivals, including Credit Suisse and Citigroup, are to move more operations here because of the decision made by the British public last summer, BofAML has seen no need to follow suit.

It has officially maintained in recent weeks that it is committed to keeping its staff of 1,800 in its London offices.

It has also drawn up plans with property agents in the city to find an office area of 50,000 sq ft – similar in size to its current office – before making a decision on whether it is to relocate or not.

Back in the US, the company is performing particularly well on the markets where last week (14 February), it was revealed as one of the country’s top performing stocks, with expectations that it will hit $30 this year.

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Colm Gorey
By Colm Gorey

Colm Gorey was a senior journalist with Silicon Republic. He joined in January 2014 and covered AI, IoT, science and anything that will get us to Mars quicker. When not trying to get his hands on the latest gaming release, he can be found lost in a sea of Wikipedia articles on obscure historic battles and countries that don't exist any more, or watching classic Simpsons episodes far too many times to count.

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