Another financial institution is making its move into Ireland as KBRA announces a raft of new jobs at its new European HQ in Dublin.
KBRA, a US credit rating agency founded in 2010 in the wake of the 2008 financial crisis, is to create 100 jobs in Dublin with its first expansion into Europe.
The jobs are expected to be filled over the next three years.
With more than 275 employees and offices across the US located in New York, Pennsylvania and Maryland, KBRA has published more than 8,000 credit ratings, totalling $740bn.
The firm covers markets that include structured finance, aviation, public finance, financial guarantee, financial institutions, project finance, insurance and corporates.
KBRA said that its move into Dublin and Europe comes following significant growth in its native market, and it is to provide investors and all market participants an additional view on ratings.
KBRA’s CEO and president, Jim Nadler, said: “KBRA is thrilled to open our first international office in a great city such as Dublin. We are so grateful for the city’s welcoming reception of our firm and we look forward to our growth within Dublin and across Europe.”
IDA Ireland CEO Martin Shanahan noted that KBRA chose Ireland as its European base over several other nations.
“This is another Brexit win for Ireland and indicates that financial institutions that may have previously chosen London now view Dublin as a viable post-Brexit solution.
“With the European economy growing faster than the American economy, now is the time to be optimistic about Europe, and Ireland remains unwavering in its commitment.”