Citi announces 250 new jobs for Ireland
Financial services firm Citi has said it will create 250 new jobs in its Dublin and Waterford operations.
The investment comes after Ireland won out a European-wide competition by the company as it tried to choose a location for the new project.
The US bank, which has operated in Ireland for 45 years, currently employs 2,200 people in Ireland. Three hundred people have been hired in the past 12 months.
The new positions will come on stream next year and span operations, funds, technology and product development and are likely to be filled by third-level graduates.
IDA Ireland is supporting the expansion and the bank will get grants for some of the jobs it plans to create.
The Minister for Enterprise, Trade and Innovation, Batt O’Keeffe TD said the announcement offers a “strong endorsement of Ireland’s financial services sector”
Citi’s Francesco Vanni d’Archirafi said Ireland was chosen as it is the company’s “centre of excellence” for global transaction services, a division he heads.
Ireland is now our location of choice for the pursuit of innovation in financial services, he said.
The Citi country officer for Citi Ireland, Aidan Brady, said, “Ireland was chosen as the location of choice for these new roles due to the calibre of our employees and the depth of expertise and innovative thinking inherent in our workforce which has enabled Citi Ireland to continue to win business and become the leader in services innovation for the organisation worldwide.”
Citi has been mainly sheltered from the financial crisis as it switched its focus from investments to services. Its income for the first nine months of 2010 was $9.3bn.