More than 50 jobs will be created at IT Sligo over the next three years following the official launch today of Equinoxe AIS at the Institute’s Innovation Centre.
The launch was attended by Dara Calleary TD, Minister for Labour Affairs and Public Service Transformation, and the CEO of Equinoxe AIS, Steve Castree.
Equinoxe AIS is a provider of administration services to the hedge fund industry. Its headquarters are in Bermuda and it has an existing Irish operation in Malahide, Co Dublin.
Equinoxe AIS is expanding its Irish operation with the establishment of a new Asset Servicing Operation at the Innovation Centre, IT Sligo. 18 new jobs will be created this year.
The jobs are supported by the Government through the IDA.
Speaking at the launch today, President of IT Sligo, Professor Terri Scott said: “The decision by Equinoxe AIS to locate here at IT Sligo is a very welcome vote of confidence in the support offered by our Innovation Centre, and in the quality of our financial services graduates. IT Sligo is widely recognised for its role in the economic development of the North West region and for its work in developing courses based on the changing needs of industry, and we look forward to working with Equinoxe AIS during the growth of its Sligo base.”
Dara Calleary TD, Minister for Labour Affairs and Public Service Transformation said: “The decision by Equinoxe AIS to establish a new asset servicing operation at the Innovation Centre, IT Sligo represents a further endorsement of the North West as a location for international financial services operations. Sligo was selected by the company for a number of reasons, not least the ease of access to IT Sligo financial services graduates, and this kind of mutually beneficial collaboration between third level institutions and employers is essential. Ireland’s favourable tax regime is also a very important factor for American companies choosing to locate here in Ireland and the Government is committed to maintaining Ireland’s 12.5 per cent corporation tax rate.”
Stephen Castree, Chief Executive Officer of Equinoxe AIS, said “Our experience of the start-up and development of our Dublin office, and its success to-date, was a major influence on our decision to locate this further investment in Ireland. We are confident that Ireland and in particular Sligo, will see this expansion successfully perform to our stringent targets and contribute significantly to the further growth of our global business. Your Government’s support for the financial services community in Ireland provides an excellent base for us to grow our European business. We are also very excited about the opportunity of working with Institute of Technology Sligo, their current and future student body, and members of the academic staff as they continue to develop their focussed courses on Financial Services,” added Mr. Castree.