The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
300 jobs Number of planned job creations
Announcement Date
22 January 2007
Employment effect (start)
22 January 2007
Foreseen end date
31 December 2011
Description
One of Japan's largest financial services companies plans to employ 300 staff in Dundalk, County Louth, over the next five years. Daiwa Securities Trust Europe, which already employs 200 people in Dublin's International Financial Services Centre (IFSC), will develop a new hedge fund administration centre in Dundalk. Twenty people have already been recruited and the operation is already underway in the new premises. Daiwa is to commence further recruitment immediately.
Shuji Nishiyama, CEO of Daiwa Securities Global Asset Services, commented "Daiwa has consistently enjoyed low levels of both staff and management turnover in Ireland, which has proved to be a considerable competitive advantage. Both the Managing Director and the Chief Operating Officer have been with the Irish company since its inception in 1990. This was an influence on our choice of Ireland for this investment. Dundalk is the preferred location because of the Dundalk Institute of Technology’s large pool of graduates, with specialities in accounting and business studies, and its willingness to work with Daiwa on specialist graduate programmes. The decisive factors were, the advantages of a regional location in attracting staff; the availability of a suitable premises; the infrastructure in the region and the support provided by IDA Ireland."
Sources
23 January 2007: The Irish Independent
Citation
Eurofound (2007), Daiwa Securities Trust Europe, Business expansion in Ireland, factsheet number 64814, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64814.
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