Northern Trust, the United States financial services company, plans to create 400 jobs in Limerick in the next five years.
The company had had a presence in Ireland since 1989 and currently employs 300 people in Hamilton House, Limerick City’s National Technology Park. The upcoming expansion will focus on the company’s funds administration business.
The Chicago-based company’s expansion of its presence in Ireland is supported by the Irish Development Agency (IDA).
Minister for Jobs, Enterprise and Employment Richard Bruton met with the senior executives of Northern Trust, including its president and chief operation officer, William Morrison, during a recent trade mission to the United States.
Speaking about the expansion in Limerick, Bruton said, “Today’s announcement that a world-leading financial services company is expanding its operations in the mid-west with the creation of 400 new jobs is great news for Limerick and for Ireland. These are highly-skilled roles, and the company will work with the University of Limerick and the Limerick Institute of Technology in filling them.”
Ireland’s Minister for Finance Michael Noonan told the Limerick Leader, “I hope that the success of Northern Trust in Limerick and today’s vote of confidence will encourage other financial services companies to establish in the region.”
This announcement comes as a boost to Limerick and the surrounding area which has lost a significant number of jobs since the recession. This is the single largest jobs boost for the county since the computer giant Dell closed its manufacturing facility in 2009.
Last year, Northern Trust was forced to cut 220 jobs in Dublin and Cork following the acquisition of Bank of Ireland Securities Services Ltd. The staff were offered the chance to move to Limerick at the time.