Tánaiste announces over 50 new jobs for Sligo by Equinoxe AIS

Posted on 05/10/09 by Mary Coughlan Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan TD

today (Monday, 5th October, 2009) announced that Equinoxe AIS, a provider

of administration services to the hedge fund industry, is to expand its

Irish operation with the establishment of a new asset servicing operation

in Sligo, which will employ over 50 people over three years, with the

potential for further growth as the operation develops. Supported by

Government through IDA Ireland, it will initially locate at The Innovation

Centre at the Institute of Technology Sligo (IT Sligo). Equinoxe's existing

Irish operation - Equinoxe AIS Ireland - located in Malahide, Co Dublin, is

the company's European Headquarters servicing the EMEA markets.

 

Equinoxe selected Sligo for the growth of its EMEA asset servicing business

in order to continue to provide premium service to clients in their own

time zone, leveraging the strong talent pool in the financial services

sector in Ireland. The Sligo operation is being established as the primary

back office servicing arm of Equinoxe EMEA covering all activities,

offering growth in addition to Malahide which will be a full service

office, but also focus on the sales and marketing activities.

 

Welcoming the investment the Tánaiste said "This is excellent news for

Sligo and is a major further endorsement of the North-West Region as a

location for International Financial Services operations, which is already

‘home' to a number of significant players in the IFS industry. Sligo was

selected as it meets Equinoxe's needs in terms of access to suitably

qualified staff; easy access to the Dublin office, will allow the company

to reduce its overall cost base, and has the academic institution, IT

Sligo, which is working with Equinoxe to assist with its growth in the

region."

 

Equinoxe provides comprehensive services to the global hedge fund

community, with its current business comprising of primarily hedge funds

domiciled in Bermuda, Cayman Islands, BVI and Ireland. It offers fund

structuring, set up, assistance in independent hedge fund creation, hedge

fund administration, portfolio accounting and valuation, shareholder

servicing, accounting, audit and tax services and directorial and

secretarial services. Tailoring its solution to meet client needs, Equinoxe

has grown quickly into a recognised and respected firm in its selected

arena.

 

Stephen Castree, Chief Executive Officer, 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. The country's highly respected reputation and track-record of

achievements in global financial services was a major consideration in 2007

when we first selected Ireland. These attributes have proven to be

valuable in the development of our business and we are again 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."

 

"The strong regulatory regime and the support that the Government continues

to give 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.