Dublin’s standing within the financial trading sector has increased, following news that Citadel Securities plans to create 35 jobs in the capital.
With suggestions that major financial players are looking to expand into Ireland post-Brexit, Dublin looks set to be a prime location in the years to come.
According to The Irish Times, Citadel Securities, the largest US equity trader, has opened an office to house 50 staff as part of a European expansion.
The office space has been leased for 15 years and is in the heart of Silicon Docks at Grand Canal Square. It will be headed by Jonathon Lowey, the former JP Morgan Ireland CFO.
The company stressed, however, that this was not a decision as a result of Brexit, and that it had been decided prior to the UK referendum.
The 35 jobs are expected to be filled by 2019 and will include front-office traders and market makers. Operations have already begun with a small staff of 15 traders, analysts and programmers.
By the end of this year, the company plans to hire 25 staff.
Ireland ‘moving up the value chain’
Lowey said there was a desire for the company to be a part of the latest wave of financial investments in Ireland, as well as to gain access to the country’s talented labour pool.
“Ireland is moving up the value chain and quickly becoming one of Europe’s top financial centres, and the arrival of Citadel Securities signals further growth in the existing cluster of front-office jobs here,” Lowey said.
The move was facilitated by IDA Ireland, with CEO Martin Shanahan commenting: “Citadel Securities is creating high-value technology roles and will strengthen our existing position in the ETF market, where we are focused on winning additional investment for Ireland.”
The news follows recent reports that JPMorgan Chase is looking to move as many as 1,000 jobs to Ireland in the wake of Brexit.
Grand Canal Square in Dublin. Image: Ingus Kruklitis/Shutterstock
