Ireland's Minister of State for Financial Services and Insurance Michael D’Arcy launched “Ireland for Finance” at the Irish Consulate in New York.
The event attended by representatives from the banking, financial services, and legal industries in the city.
Ireland for Finance is the new strategy for the further development of the international financial services (IFS) sector in Ireland to 2025, which was launched in Ireland earlier this year.
D’Arcy was introduced at the launch by Deirdre O’Connor, managing director at global investment management firm Blackrock who is the international adviser on the Industry Advisory Committee which advised on the development of the Strategy and will also now assist with its implementation.
The vision of the strategy is for Ireland to be a top-tier global location of choice for specialist international financial services. Ireland for Finance builds upon the success of IFS2020, the previous IFS five-year strategy for the development of the international financial services sector launched in 2015.
The employment target for the new strategy is to reach 50,000 people in direct employment in the sector by 2025. This compares with 44,000 people directly employed in the sector at the end of 2018
“You could say that New York is the global financial center. Many major financial firms have their headquarters in this city, whether it is banking, wealth management, or insurance. That means that if we are to be successful in delivering Ireland for Finance, we need to continue the connections between New York’s financial services and the industry in Ireland, and we must also deepen and broaden them,” said D’Arcy.
“Our vision is that Ireland will continue to be a top-tier location of choice for specialist international financial services and that we will continue to enhance and protect our future competitiveness”.