Strong jobs growth in the so-called “FinTech” sector point to Brexit’s potential to rejuvenate inner city areas and help regional jobs growth, Financial Services Ireland, IBEC, Director Marc Coleman said.

Welcoming the announcement of hundreds of new jobs by financial services companies Circle and Fenergo, Mr Coleman said financial services could renew and reinvigorate local and regional economies if given proper policy supports. “For thirty years FSI and IBEC have been working to promote the IFSC and its transformation into one of Europe’s most dynamic and prosperous urban areas. The salutary success of Circle and Fenergo should now not just be praised, but copied around the country”. Mr. Coleman said yesterday.

FSI will be hosting a series of regional events to promote the potential of the financial services across Ireland, beginning in Limerick in early May. “Sectors like aviation leasing have already shown how areas like Shannon were benefitting from high value clusters of financial services activity long before the industry’s more wide spread success. With financial service companies looking at Ireland post Brexit, here is an opportunity for new sectors of IFS to channel prosperity and growth right across Ireland. Financial Services Ireland is Ireland’s largest and only cross sectoral financial services representative body and was the first Secretariat of IFS 2020, a government strategy to create 10,000 jobs by 2020.

“Particularly exciting about these announcements is that they reminds us of the potential to create new clusters of success around Ireland. The location of the Governance Regulatory and Compliance Technology Centre in Cork show how financial services can tap into centres of research and development. The growth of the aviation leasing sector in Shannon is another example. If the government heeds IBEC’s call for greater regional investment, these success stories can be repeated.” Mr Coleman added.

Source: IBEC

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