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Trade mission to New York to focus on financial services sector

The trade mission is being led by Minister of State with Responsibility for Financial Services, Credit Unions, and Insurance, Robert Troy
The trade mission is being led by Minister of State with Responsibility for Financial Services, Credit Unions, and Insurance, Robert Troy

A trade mission to New York, focused on the continued development of Ireland's international financial services sector, is taking place this week.

It is being led by the Minister of State with Responsibility for Financial Services, Credit Unions, and Insurance, Robert Troy.

The wider delegation includes representatives from the Department of Finance, Enterprise Ireland, and the IDA.

As part of the mission, Minister Troy will undertake a number of engagements with Enterprise Ireland and IDA clients, philanthropic organisations, industry groups, and private industry.

The Department of Finance said a central focus of the mission is the ongoing development of the next version of 'Ireland for Finance' strategy, which is the Government’s plan for developing the international financial services sector.

The strategy is currently within a public consultation period with the next version, to cover 2026-2030, set to be launched early in the first half of next year.

Ireland’s international financial services sector employs over 60,000 people.

One in four of the jobs are located outside of Ireland.

The sector has seen a 50% increase in jobs since 2015, with Ireland’s overall financial services sector contributing more than €6 billion in tax revenues annually since 2021.

Mr Troy said the trade mission to New York to meet with global firms investing in Ireland, as well as Irish firms exporting to the US, is "incredibly timely, both as a result of the changing geopolitical landscape, and the development of the next Ireland for Finance strategy".

He said New York is a globally recognised hub for financial services, and home to the headquarters of many firms with significant operations in Ireland.

"Our international financial services sector has been a true success, becoming a destination of choice for some of the biggest names in banking and payments, funds and asset management, and insurance."

Minister Troy said with the pace of technological development in the sector, "Ireland is, and will be, a key beneficiary given our strength and cohabiting of major tech and financial services firms."

"I am looking forward to listening and engaging, to ensure that the next version of Ireland for Finance takes us through to the end of the decade and beyond," he said.