Senior Irish politicians welcomed the plan by Northern Trust to create 400 new jobs in Limerick over the next five years.
Northern Trust, the asset manager and investment services company, already employs about 1,000 people across its two sites in Limerick and yesterday said it would expand.
The firm opened its Limerick office a decade ago with 19 people. It also has an office in Dublin, which was opened in 2000.
Michael Noonan, Ireland’s minister for finance, said: “I’m very proud of this endorsement of the people of Limerick and its surrounds. The access to markets, the skilled workforce and the quality of life in this region I’m sure are all positive influences in this decision.”
He added: “In the wake of Brexit it’s important that we continue to add jobs to the local economy and having met with Northern Trust in London late last year I’m grateful that they see Limerick as a key part of their future plans for their operations in Europe.”
Northern Trust told the move was not related to Brexit but instead was in response to continued growth. It is the fourth major expansion the company has announced since opening its Limerick office in 2007.
Mary Mitchell O’Connor, minister for jobs, enterprise and innovation, said: “This is another great investment for Limerick and I welcome the additional 400 jobs being created over the next five years.
“We value foreign direct investment from companies like Northern Trust which is firmly in the knowledge-based sectors. That is where we have strong competitive advantage.”
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