Southwest sees growth in financial services industry
The southwest of the country – particularly the counties of Cork and Kerry – is confident of attracting more international financial services companies to the region in the coming years.
Growth is predicted through the establishment of foundations by new businesses and increased investment by existing businesses and increased number of jobs.
Currently, around 3,500 people are employed in the financial services industry in the southwest. Growing areas of interest include asset management, fund administration and financial technology.
There are around 40 international financial companies based in the southwest.
At an event highlighting opportunities for the region, Cork Chamber General Manager Conor Healy said skill availability was not an issue.
“The availability of talent is a priority in every conversation we have with businesses right now, and the financial services industry is no exception,” he said.
“In the southwest, the financial services industry is supported by a strong talent pool of highly qualified potential future employees from the two regional universities. The UCC and the Technological University of Munster together have more than 40,000 students and 2,000 business and finance graduates each year.
There are currently 211 IDA client companies – in various industries – in the southwest, employing over 46,000 people. IDA said it was targeting 118 investments for the southwest region between this year and 2024.