One of the world's biggest bank groups, NatWest, is to locate its new software development centre in Dublin - undeterred by concerns about a skills shortage.
Recruitment is to begin immediately for graduates, with the goal of employing 350 people over the next five years. According to NatWest chief executive, Mr Derek Wanless, the bank is certain it will be able to find staff for the centre, which will support NatWest's London-based retail information systems unit, where 1,200 people are employed. "We got expert advice before making our decision and if we thought there was a skills shortage, we wouldn't have decided to come here. The fact that we had additional space here was also an advantage because it means we can get up and running more quickly. The quality of the graduate population is also very high," Mr Wanless said.
IDA Ireland competed heavily with the Industrial Development Board to attract the investment, with the final decision coming down to Belfast or Dublin.
At the Dublin headquarters of NatWest's Irish subsidiary, the Ulster Bank Group, Ireland's young population and a concentration of educational establishments were cited as major contributory factors in deciding to locate here.
Graduates from a range of disciplines will be invited to apply for the jobs. NatWest said it was not simply looking for computer graduates. The recruitment focus will be on mainframe and client server skills, and the priority positions will be filled by application developers, business analysts and technical support specialists. A number of experienced people with COBOL and related language skills will also be required.
Though details of the remuneration package were not provided, the company says it will pay at competitive market rates. The centre will be sited initially at the Ulster Bank Group Centre on George's Quay.
The Tanaiste and Minister for Enterprise, Trade and Employment, Ms Harney welcomed the announcement and the calibre of jobs the centre would bring. "Firstly, it demonstrates clearly that we will continue to have the necessary skills availability in Ireland for the foreseeable future. Secondly, it confirms the attractiveness of Ireland for support functions to mainstream banking and financial services activities," she said.
