Daiwa Securities Opens Second Facility In Ireland At Dundalk

Irish Minister for Enterprise, Trade and Employment Micheál Martin, performed the official opening, together with Mr Shuji Nishiyama, CEO of Daiwa Securities Global Asset Services, of the new Hedge Fund Administration operation for Daiwa Securities Group Inc. in Dundalk, Co Louth, which is supported by IDA Ireland.

Daiwa is Japan’s second largest securities firm and this is its second facility in Ireland – its first being located in Dublin. The Dundalk operation is located at IDA’s Finnabair Business Park and will create 300 high-calibre financial services jobs over five years. Already 20 people have been recruited and the operation is already underway in the new premises. Daiwa is to commence further recruitment immediately.

Daiwa’s existing Irish facility in Dublin – Daiwa Securities Global Asset Services (Daiwa Europe Fund Managers Ireland Ltd. & Daiwa Europe Trustee Ireland Ltd.) – provides fund administration, trustee and global custody services, valued today at $50 billion, to international clients. It is the only fund administration company in the Daiwa Group and its role within the Group will benefit greatly from this expansion.

Since the establishment of the Dublin facility, over 16 years ago, it has enjoyed continuous growth and currently employs over 200 people. It was the first Irish fund company to offer fund administration services to the global Hedge Fund industry out of Ireland, and today the company continues to offer services to three of the longest established hedge fund managers in London.

Minister Martin said: “Daiwa was one of the first Japanese financial institutions to establish a facility at Dublin’s International Financial Services Centre in 1990 and the first to service the hedge fund industry from Dublin. Currently Daiwa is enjoying significant growth in the Asset Servicing business, with its Dublin serviced assets growing from $23 billion in 2004 to $50 billion today. Daiwa’s growth in business and employment is an endorsement of this Government’s policy and IDA Ireland’s strategy for international financial services in Ireland, which has identified international fund administration as an important sector for this country. Daiwa will be a major addition to the growing number of international financial services companies in Dundalk.”


Related Northern Ireland Recruitment News Stories
Click here for the latest headlines.

20 September 2010
Employment 'Hedged' In US-Dublin Move
An American firm is to create 50 jobs in hedge fund administration in Dublin. The Minister for Enterprise, Trade and Innovation, Batt O'Keeffe announced the new jobs in a financial services software firm that will be created over the next five years.
22 August 2005
BISYS To Establish 250 jobs in Waterford
Ireland's Minister for Enterprise, Trade & Employment Micheál Martin has confirmed that US financial services company BISYS Hedge Fund Services is to set up an operation in Waterford with the creation of 250 jobs over the next five years.
04 April 2006
Citco Open New Premises In Cork
Minister for Enterprise, Trade and Employment Micheál Martin has officially opened the new premises for Citco at Tellengana, Blackrock Road, Cork. Citco is a global financial services company and a world leading provider of hedge fund services.
25 January 2006
Citco Poised To Create 250 New Jobs
Independent global financial services organisation Citco, one of the world’s leading providers of hedge fund services, is to open a second administration centre and expand its existing data processing operation in Cork.
21 November 2002
60 new jobs for Dublin and Mayo
US-based company Advanced Medical Optics Inc (AMO) has revealed that it is to push forward a number of developments which will see up to 60 jobs created in Co Mayo and Co Dublin.