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Trend to go country increases Back  
As more companies respond to the infrastructural bottlenecks in Dublin, the summer has seen a proliferation of new financial projects being established outside of the capital.

Deutsche Bank’s fund administration service, Deutsche International Ireland, are expanding operations to Kilkenny. Deutsche Bank is one of the premier fund administrators in the IFSC with funds under management of $75 billion.

Fortis, formerly known as MeesPierson, is also growing its fund accounting operations network to Galway where it will employ between 10 and 12 staff.

Meanwhile Bank of Ireland has entered an agreement with Nova, to establish a call centre for credit card services in Arklow.

Halifax is also opening a credit insurance arm in Shannon. Already a leading provider in the UK market the Halifax Shannon operation will be a fully serviced business centre with approximately 50 people employed.

However not all financial companies are choosing to move outside the capital. But one fund manager who’s company is committed to remaining in Dublin welcomed the trend and said it would help to free up resources in Dublin.

Bucking the trend is Novell, the international networking software company that has its European centre for operations, finance and Research and Development in Dublin already. Novell plans to develop the signature building at Sir John Rogerson Quay in Dublin’s Docklands area.

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