Investment fund firms plan 700 jobs - graduate jobs

Graduates will soon have more than 700 new jobs in the investment funds industry to aim for.

A human resources survey by the Irish Funds Industry Association (IFIA) found its members plan to create 711 new positions this year

The association announced the positive news at its annual general meeting, where it was also revealed that Deutsche Bank is moving all of its European hedge fund administration to Dublin.

It will create a European centre of excellence at the International Financial Services Centre in the Irish capital specialising in hedge funds. The German bank will employ between 75 and 100 people there before the end of this year.

Including the new jobs, there will be 12,500 people employed in the sector in Ireland. The new jobs will cover a number of areas, including legal, tax and accountancy roles. There will also be opportunities for fund accountants and administrators; transfer agency staff, custody and trustee workers and client relationship managers.

Gary Palmer, chief executive of the IFIA, said the growth of the Irish industry during 2010 was much greater than any other comparable fund jurisdiction.

He said that "underlines the experience, expertise and global reach of Ireland as a leading funds domicile and the world's number one centre for the administration of investment funds and we expect this growth to continue".

Copyright Press Association 2011