Dell bank creating 200 jobs in Dublin

Dell said today that it will create 200 jobs in the first phase of its new financial services company in Dublin.

Today’s official launch of the Dell bank was attended by Taoiseach Enda Kenny, Minister for Finance Michael Noonan, and Minister for Jobs, Enterprise and Innovation Richard Bruton.

Dell was awarded a full commercial bank licence by the Central Bank of Ireland at the end of June. Now, through its customer financing arm, Dell Financial Services, the company will provide direct financing to business customers across Europe from its HQ in Cherrywood Business Park in south Dublin.

Dell said it has invested €400m in the roll out of Dell Financial Services in Europe. This includes start-up and employment costs in Ireland as well as the investment in acquiring customer portfolios that will be managed by the Irish-based team. The bank’s platform is supported by a team based in Dell Limerick.

In the initial phase of Dell Financial Services, 200 employees will be based at Cherrywood. This number is expected to grow to 300 within the next three years as the business expands.

“We are delighted to build on our existing presence in Ireland through the establishment of the Dublin-based Dell Bank International Limited,” said  Aongus Hegarty, president, Dell EMEA. “This development is a further example of the continued investment in our Irish operations in Cork, Dublin and Limerick.

“We are delighted with the support received from the Government and the Central Bank of Ireland which has enabled us to secure a full commercial banking licence. As a result, we plan to build out our financing business from here, facilitating our goal to bring a diverse range of financial solutions to our customers throughout Europe.”

“Over the past 18 months we have been building a strong team of financial services experts in preparation for the launch of our financial services business in Europe,” said Cormac Costelloe, general manager for Dell Financial Services business in Europe. “Now that we have secured a full commercial bank licence we are in a position to offer our customers finance for their IT solutions. With the access to finance barrier removed customers can focus on investing in their business rather than worrying about the infrastructure to run it.”