230 jobs have been announced for Drogheda in Co Louth by International Fund Services Limited. The Drogheda operation will be its third in Ireland and is supported by IDA Ireland.
IFS is a provider of fund accounting and administration services to the hedge fund industry globally. It services about 10% of the hedge fund industry worldwide and administers $120 billion in hedge fund assets.
The company opened a new 140 person operation in Naas in Co Kildare during the summer and also has an office in Dublin's IFSC. It now employs over 600 people in Ireland.
The new centre for Drogheda will provide fund accounting and fund administration services to hedge funds established by the company's third party clients and will create 235 jobs over the next five years.
'Today's announcement illustrates again that towns with the necessary skills, infrastructure and services can compete effectively with larger centres to attract high-level knowledge-driven activities,' commented the Minister for Enterprise, Trade and Employment Micheal Martin.
'IDA Ireland is committed to regional development as a core part of its strategy and this immediate expansion from a global leader like IFS will be a significant addition to the North East region,' the Minister added.
