Euro Zone’s Biggest Bank Moves to Kilkenny

Tánaiste Mary Harney announced today (Monday 18th September 2000) that Deutsche International (Ireland) Limited, which has a Funds Administration operation in the IFSC, Dublin, is to establish a Global Accounting Centre in Kilkenny City. The Centre will be located at the IDA Ireland Business and Technology Park and will start operations immediately. The Tánaiste was speaking at a function in Kilkenny following her meeting with the Board members of Deutsche who are visiting Kilkenny today.

"The Centre will initially employ 50 people, all being recruited within six months, and the company has indicated that it will have the potential to grow to employ over 100 people. The company will require people with banking, insurance, accounting and general financial services skills. Positions will be available for graduates, school leavers and those wishing to return to work," said the Tánaiste.

The Kilkenny Centre will provide global accounting services to the Deutsche Bank Group and to third parties. It is being established to provide additional capacity as a result of significant growth in the Deutsche International fund administration business.

"The establishment of the Deutsche Centre is further good news for Kilkenny and the whole South-East Region as it is the second high quality financial services project to locate at the Park within a few months. In early July I announced that InFoScore of Germany is to create 100 new jobs at the IDA Business and Technology Park in a new credit data services and software development operation. Scheduled to start operations in October, InFoScore has already commenced recruitment," said the Tánaiste.

Deutsche International (Ireland) Limited is a subsidiary of Deutsche Bank AG and is a fund management and administration service provider for the Deutsche Bank Group and for third party funds. It is the largest Funds Administration company in the IFSC, Dublin, employing 240, against an initial job commitment of 20, and having US$75 billion assets under administration.

"With the establishment of this Centre by Deutsche, following quickly on the recent InFoScore investment and the announcement by VHI in April of its New Business Centre which will create 120 jobs, we are making significant progress in providing new high quality employment for the people of Kilkenny and surrounding area," said the Tánaiste.

"Kilkenny, with over 180,000 people living within a 40 mile radius, two leading Institutes of Technology within 30 miles and Dublin Airport less than two hours drive is very well positioned to attract International Services companies. The on-going availability of Advance Office buildings on the IDA Business & Technology Park and the continuous improvement in telecommunications and all other utilities will ensure that Kilkenny is fully equipped to benefit from the IDA’s focus on attracting overseas business to the regions", the Tánaiste concluded.