Northern Trust is bulking up its Limerick presence, targeting a total staff count of 1,400 across its two sites.
With a decade of operations in Limerick now under its belt, financial services giant Northern Trust is looking to the future.
Already armed with 1,000 employees across sites in Hamilton House and City East Plaza, the company wants to bring in 400 new staff over the next five years.
With Limerick representing a fund administration centre of excellence for the company, Clive Bellows, country head of Northern Trust in Ireland, claims that the news confirms a fresh commitment to Ireland.
“We have seen growth in the scale and operation of our Irish business over the years and the continued expansion of our office in Limerick reflect[s] this,” he said, acknowledging IDA’s assistance in the process.
University of Limerick and Limerick IT were also name-checked by Bellows, noting his company’s “strong relationships” with the educational institutions.
Minister of State for Financial Services Eoghan Murphy, TD, called today’s news evidence of “the added value of investing long-term” in Ireland, noting the “high-value and sustainable employment in the regions” achieved by the company.
“Northern Trust’s initial presence in Dublin and subsequent expansion into Limerick is a proven model across all sectors of our economy, illustrating the excellent accessibility and availability of talent,” Murphy said.
“The Government will continue to work closely with industry to implement the IFS2020 Strategy in its aim to promote Ireland as the European location of choice for specialisation and innovation in financial services.”
Northern Trust has had a presence in Ireland since 1989 and opened its Dublin office in 2000. Its first Limerick office opened in 2007 with 19 staff, growing by an average of 100 per year ever since.
“Limerick is a fund administration centre of excellence for Northern Trust, supporting organisations such as leading alternative, multi-manager and traditional investment managers; pension funds; multinationals; insurance companies; and not-for-profit organisations, worldwide,” said Catherine Duffy, general manager for Northern Trust’s Limerick office.
“We aim to create an inclusive, diverse workforce and recruit graduates from across the local region as well as experienced professionals from around the world.
“We are committed to ensuring women are represented at senior levels of our organisation and have a number of employee groups established, one of which today will host a day for our employees to bring their parents to work.”