HedgeServ announces 300 new jobs in substantial expansion

25^th October 2011

Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today welcomed the continued commitment by HedgeServ, a top ranked global hedge fund administrator, to its Irish operations. The company, located on St. Stephen’s Green, has increased its workforce by an additional 150 people over the last 12 months, bringing its workforce in Ireland to 230. HedgeServ also announced today that it is on track for continued growth in Ireland with the announcement of an additional 300 jobs into the future.

Welcoming the company’s ongoing growth in Ireland, Minister for Jobs, Enterprise and Innovation, Richard Bruton TD said:

"Today’s announcement by HedgeServ, a world-leading hedge fund administrator, that it is expanding its operations in Ireland with the creation of 300 new jobs is great news for Ireland and an excellent vote of confidence in our strengths.

Jobs are at the very top of this government’s agenda, and I am determined to do everything possible to achieve the job-creation we so badly need. This means setting highly ambitious targets and undertaking radical change in order to achieve them. It also means targeting sectors where Ireland has advantages, including international financial services. I am determined to build on today's great announcement with a series of radical measures across a range of sectors to get 2 million people back at work in our economy again."

Jim Kelly, Chairman and Co-Founder of HedgeServ said:

”HedgeServ’s growth in Dublin has exceeded all expectations and we are delighted to have been able to hire an additional 150 staff over the last 12 months. Our fast-paced development in Dublin reflects our commitment to answering the global demand for HedgeServ’s innovative, high-quality fund administration services. I would like to take this opportunity to thank management and staff at HedgeServ in Dublin for their dedication in making this operation a success.”

Commenting on HedgeServ’s progress to date in Ireland, Barry O’Leary, CEO of IDA Ireland said:

“The international financial services sector in Ireland continues to go from strength to strength. HedgeServ is a premier example of that strength. HedgeServ commenced operations in Dublin two years ago and in that time has entered an elite group of the largest fund administrators serving the alternative investment industry. It is exciting to witness the fast growth of this company which has quickly established itself as a leader in alternative fund administration. We welcome HedgeServ's commitment to Ireland and wish them every success as they continue to grow their operations with the support of IDA Ireland.”

HedgeServ has redefined hedge fund administration by delivering client service expertise and innovative technology solutions. HedgeServ currently services over $130 billion of client assets under administration and has over 425 employees globally with offices in Dublin, London, New York, Chicago, and Grand Cayman.

ENDS