Fortis Fund Services (Ireland) Limited is to open a new office in the Galway Technology Park, Galway City, which is expected to employ over 50 people.
The operation, an extension of Fortis’ Funds Administration operations at the International Financial Services Centre (IFSC) in Dublin, will bring the number of people employed by the company in the Republic to over 200.
Speaking at the launch of the new office, the Tanaiste, Mary Harney, said the the announcement was the result of co-ordinated efforts between the IDA Ireland and Fortis to find a suitable location for the company outside Dublin.
"It[ the IDA] has been assisting the company to identify suitable premises, to make contact with recruitment agencies to locate suitably qualified staff and in introducing it to the third level colleges, who will work with Fortis in developing courses tailored to its specific needs," Ms Harney said.
Fortis’ Irish operation, was established in 1995, has been highly successful, with two operations at the IFSC, far exceeding its original employment commitment of 23 people within 4 years under the terms of its original IFSC licences.
Its Irish operation administers over US$9.5 billion of assets under administration and over 150 funds.