300 jobs are to be generated in Dundalk, Co Louth, by a Japanese financial services company.

The workers who will administer investment schemes will be recruited over the next five years.

Daiwa Securities already has offices at the IFSC in Dublin, employing 200 staff, and in London and New Jersey.

20 people are already working in the new office of Daiwa Securities in Dundalk.

Supported by the IDA, the company expects the workforce to grow to 300 over the coming years.

Convincing the firm to locate its new centre outside the capital is being seen as significant, and a key factor was the ease of attracting new staff who did not want to have to commute to Dublin.