Cathal Smyth, Managing Director, State Street, Kilkenny
Irish Funds have highlighted the industry’s continued growth in Ireland, in the Kilkenny area alone, there are currently 18 funds and asset management companies employing almost 1,000 people.
During the virtual Irish Funds Regional Economic Impact event, participants reflected on the 30th anniversary of Irish Funds and the findings of the latest Indecon Economic Assessment report, which revealed that the industry now represents 180 enterprises operating in every county in Ireland and directly employs more than 17,000 people, with an estimated total economic impact of €14.8bn.
Speaking at the event, Cathal Smyth, Managing Director, State Street, Kilkenny said: This year State Street has been celebrating 25 years in Ireland and 20 years in Kilkenny. We currently employ approximately 2,000 staff in Ireland across Dublin, Drogheda, Naas and Kilkenny and have recently announced an additional 400 jobs in our Kilkenny site. We have benefited not only from the strong financial services and tech eco-system in Ireland, and the south-east, but also relationships with local policy makers and community partners. The latest Indecon report reflects the important role our industry plays as an employer and net-economic contributor across the island of Ireland and State Street is delighted to continue to play its part in this.
Reflecting on the figures, Pat Lardner, Irish Funds CEO, said: “The funds and asset management industry continues to play a pivotal role in showcasing what Ireland has to offer and delivering tangible economic benefits to local communities. Recent figures have highlighted the contribution of the funds industry to regional development with a 40 per cent increase in the number of employees based outside of Dublin in the last two years. As we emerge from the pandemic, Irish Funds will continue to support investment and drive sustainable growth across the island.
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