Dublin, Thursday, 9th December 2010 – Minister for Enterprise, Trade and Innovation Batt O’Keeffe TD today announced that Citi, the leading global financial services company, is to create 250 roles in the next year at its offices in Dublin and Waterford. These roles will be in Funds, Client Services, Product Development and will include some Operations and Technology roles. These roles will come on stream over the next 18 months. Citi currently employs 2,200 people in Dublin and Waterford and has already hired 300 people in the last twelve months including a number of graduates on the FÁS Work Placement Programme. Ireland was chosen for these new roles as Citi has a long standing and well respected existing operation here. There is also a very talented and well educated labour force available in the Irish market for these roles.
Citi is celebrating 45 years of continuous business in Ireland and is committed to growing its franchise here. The pro business environment and the support received from IDA Ireland since its establishment have enabled Citi to become one of the largest international financial services companies in Ireland. Citi is also leading the way in the field of Services Innovation and was the first financial services company to set up a Research and Development Centre to develop the next generation of eBanking products. The Centre was officially opened last year and now employs a team of researchers, technologists and analysts.
Minister O’Keeffe congratulated Citi for investing in Ireland for 45 years and described the 250 new jobs as a “strong endorsement of Ireland’s financial services sector.
“More than half the world’s leading financial services firms now have operations in Ireland. Citi, a pioneer in the financial services sector, has made an outstanding contribution to our economy for more than four decades.
‘It is a standard-bearer in Dublin’s IFSC and the expansion of the Waterford operation has dramatically enhanced the profile of the south-eastern region for top-level financial services investments.
‘Citi’s announcement today demonstrates that we can out-perform rival locations for major global investments in the financial services sector because we have the talent, track record and tax regime that makes global players want to hub here,’ said Minister O’Keeffe.
Francesco Vanni d’Archirafi, Global Head of Global Transaction Services said at today’s announcement “I am very pleased to announce the addition of these high value jobs for our Irish operations. Citi in Ireland is a centre of excellence for our Global Transaction Services business and is now our location of choice for the pursuit of innovation in financial services. There is a wealth of talent, experience and expertise based here and with the support of IDA Ireland, we will continue to grow our business and provide the banking products and services of the future from here.”
Also speaking at today’s announcement Aidan Brady, Citi Country Officer, Citi Ireland said “Ireland was chosen as the location of choice for these new roles due to the calibre of our employees and the depth of expertise and innovative thinking inherent in our workforce which has enabled Citi Ireland to continue to win business and become the leader in Services Innovation for the organisation worldwide. The Government’s pro business approach and IDA’s support for projects in the financial Services sector has been vital to our continued success.”
Citi provides financial services and products for multinational companies, Irish companies and the government and public sector. The range of products and services include: cash management, rate risk management, (FX and interest rates), funding, investor products, corporate finance, trade services, trade finance, custody, trustee services, fund administration, transfer agency, outsourcing and shareholder services.
Welcoming today’s announcement IDA Ireland CEO Barry O’Leary said “Ireland’s international financial services sector is recovering and in expansion mode. IDA’s ‘Horizon 2020’ strategy identifies growth in services and technology as key strategic areas of opportunity for Ireland. The growth of Citi demonstrates Ireland’s continuing attractiveness as a location for foreign direct investment. The combination of talent, corporate tax, track record, technology capability and the ease of doing business positions Ireland to win further investments in international financial services.”
Notes to Editor
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.