200 new financial technology roles created in Ireland

Ireland is fast-becoming a prime location for ‘nearshoring’ IT functions in financial services, and Fidelity’s decision to create a further 200 jobs in this area is testament to its growing status as a relatively low-cost, and highly-skilled, development centre.

Fidelity now employs over 500 people in Ireland in Dublin and Galway and, having announced the creation of 100 technology jobs in 2011, has already increased headcount by 250 throughout this year. It now plans to add a further 200 jobs across technology, back office operations and enterprise services.

Ireland’s reputation as a centre for back office fund administration functions is long established, but more recently financial services firms have started increasing headcount in technology. So far this year, the trend for nearshoring has benefited Belfast, with Citi and the Chicago Mercantile Exchange announcing expansion plans, but the Republic is also attracting jobs.

Travis Carpico, president of Fidelity Investments in Ireland said that the decision to expand was based on a “long-term decision” to build its presence in a region with a “well-educated, highly-skilled workforce”.