Luxembourg-headquartered Alter Domus is supporting the fintech future of Ireland.
Financial services player Alter Domus is to create 60 new jobs in Cork, in what will be its second office in Ireland.
In an IDA Ireland-backed investment, the company is establishing a centre of excellence in Cork that will add to Ireland’s fintech ambitions.
“It perfectly illustrates the IFS 2020 priority to highlight the added value of distributing operations both in Dublin and regional locations,” said Minister for State for Financial Services Eoghan Murphy, TD.
“I look forward to continue working with the IDA to promote the talent, connectivity and competitive offering to be found in our regional financial services hubs.”
Ireland talks up its European credentials
Alter Domus has more than $125bn under administration and serves nine of the 10 largest private equity houses, six of the 10 largest real estate firms and five of the 10 largest private debt managers in the world.
The company came to Dublin in 2011 to provide corporate services to its clients.
The expansion enables it to add fund administration to its range of services, explained James McEvoy, country manager at Alter Domus.
CEO of Alter Domus, Laurent Vanderweyen, said: “Ireland is an attractive jurisdiction for Alter Domus to further expand, Dublin already being a popular investment structuring destination for non-European fund managers, particularly from the US, looking for an entry point into the European market.
“Alter Domus, as a well-established provider in the alternative domain across continental Europe, recognises the strategic importance of further building its presence in Ireland as this jurisdiction continues to attract interest from our clients in North America, the United Kingdom and beyond,” Vanderweyen added.
In the emerging fallout from Brexit, Jobs Minister Mary Mitchell O’Connor, TD, emphasised Ireland’s European credentials.
“Ireland remains a committed member of the EU, benefiting from the many advantages that EU membership brings, including bilateral trade agreements with third countries providing market access opportunities and a common, predictable, legal and regulatory framework,” O’Connor said.