US financial services company Northern Trust is to create up to 400 jobs in Limerick over the next five years as part of an expansion of its Irish operations.

The company, which has had a presence in the country since 1989, already employs 300 people in Hamilton House in the city's National Technology Park.

The expansion is supported by the IDA and is focused on the company's funds administration business.

Minister for Jobs, Enterprise and Employment Richard Bruton met senior executives of Northern Trust, including its President and Chief Operation Officer William Morrison, on a recent trade mission to the US.

Outside of its Limerick operations, Northern Trust also has offices in Dublin and Belfast.

Following the acquisition of Bank of Ireland Securities Services Ltd in June of last year the company cut 220 jobs in Dublin and ten in Belfast.

Affected staff were offered the chance to move to Limerick at the time.

Limerick and the surrounding region has lost a significant number of jobs in its large manufacturing and traditional industrial companies in recent years.