Some 50 high-end jobs are to be created over the next two years with the launch of a new finance company.

Asset management firm BNY Mellon announced the creation of the new futures and derivatives company — BNY Mellon Clearing International Limited — to be headquartered in Dublin.

The new jobs will be in the areas of finance, risk management, technology, operations, sales, compliance and legal.

Joe Duffy, BNY Mellon executive for Ireland, said the new firm will boost its presence in the country.

"Today's announcement represents another milestone in our Irish growth strategy and supports our ongoing commitment to expand the range of capabilities we offer from Ireland to both local and global clients," Mr Duffy said.

Ireland is now BNY Mellon's second largest location in Europe, employing more than 1,800 people in Dublin, Cork, Wexford and Navan.

The company delivers a broad range of services to traditional and alternative asset managers, banks, pension funds and insurance companies, offering a range of services including asset servicing, alternative investment services and corporate trust.

BNY Mellon operates in 36 countries and serves more than 100 markets.

PA