Just as it opened a new data lab in Dublin that will create 40 new jobs, Deutsche Bank has revealed plans to create a further 125 tech and operations roles in Dublin.
The 125 additional roles will support Deutsche Bank’s Global Markets and Corporate and Investment Banking divisions.
The data lab, known as The Hive, will be a global centre of excellence for the Bank.
‘This data lab will generate insights that will enable us to understand and serve our clients better’
– KIM HAMMONDS, DEUTSCHE BANK
“Deutsche Bank’s choice of Dublin for its new data lab is a great endorsement of the technology talent and expertise here,” said Martin Shanahan, chief executive of IDA Ireland.
“The addition of another 125 jobs following on from the company’s announcement of 700 jobs just three years ago clearly shows potential investors that Ireland is a compelling location for international financial services where global companies can build large teams in a relatively short space of time due to the quality of the workforce available to them.”
Deutsche Bank’s Group Technology & Operations group provides the processes, systems and infrastructure that enable Deutsche Bank to thrive in today’s competitive markets.
Deutsche Bank has had a presence in Ireland since 1991 and today employs over 650 people at its offices in Eastpoint Business Park.
“This data lab will generate insights that will enable us to understand and serve our clients better,” said Kim Hammonds, group COO, Deutsche Bank.
“It will also enhance our ability to comply with regulatory requirements, further strengthen controls and reduce costs.”
Ireland has a growing reputation as Europe’s fintech hub
The data lab will enable the bank to glean valuable insights from the troves of data at its disposal and turn these into valuable services for its customers.
The investment was welcomed by the Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor, TD.
“The new data lab builds on the bank’s strong investment and job creation here over recent years and the provision of an additional 165 quality jobs is very welcome indeed,” O’Connor said.
“The Government has been making strenuous efforts to ensure that we have the right conditions in place in Ireland to continue job creation across the country.”
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Updated at 10:55am, 9 September 2016: Kim Hammonds’ name was incorrectly put as Karl in the first pull-quote. This has now been amended.