Deutsche Bank has said it will create 40 jobs as it announced it is opening a data lab in Dublin.

The company also announced plans to create a further 125 technology and operations roles in Dublin supporting its 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.

Welcoming the announcement Minister of Jobs, Enterprise and Innovation Mary Mitchell O'Connor said "this project by Deutsche Bank represents a great vote of confidence in Ireland and its attractions for Financial Services companies"