THE announcement last week that the majority of 800 new jobs created by Capita will be based in Dublin’s Docklands has been described as a vote of confidence in the city.
Capita said they will add 800 new positions over three years, doubling their employment to 1,600, as they unveiled their new offices at 2 Grand Canal Square.
The business management firm is a high profile company that is the UK’s leading provider of management and integrated professional support service solutions.
They specialise in services to some of the biggest names in the industry such as Goldman Sachs, Citibank and the National Asset Management Agency (NAMA).
The increase in staff will include hiring some of those from the Irish Bank Resolution Corporation who are handling loans on behalf of NAMA.
In March, Nama appointed Capita Asset Services as its primary and special loan servicer on the loans currently being managed on its behalf by IBRC, now in liquidation.
The Labour Party TD in Dublin South East, Kevin Humphreys,
said the jobs boost for the capital showed that confidence was slowly building in Ireland.
“This is a vote of confidence in Ireland and shows we are competitive in the traded financial services sector,
? he said.
“This is an area of fierce international competition, so this announcement builds on the strong financial and technology hub that has emerged over recent years in the Docklands.
“These new jobs in funds, international financial services, loan administration and asset management are a welcome and needed boost to the sector.
“This will further copper fasten Dublin as a location for these internationally competitive activities, and shows that confidence is slowly building in Ireland.
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He added:
“Located in the Docklands with excellent public transport links, these are jobs that will be open to people across the greater Dublin region.
“It will also deliver increased spend in the local economy, supporting small and medium enterprises, and boost our services industry, and the skill set of Irish workers.
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Speaking at the official opening of its impressive new 45,000 square foot Dublin office, the Minister for Finance, Michael Noonan, said the scale and ambition of the company’s investment in Ireland highlighted the progress that is being made in attracting investment and jobs into the country.
“I would like to wish Capita’s country manager, Robbie Hughes, and all his team every success in the years ahead as Capita continues to grow and prosper in Ireland,
? he said.
Robbie Hughes said:
“This is a significant investment for Capita and underlines our confidence in Ireland as a place to do business.
“Capita now has more than 800 employees and today confirms its aspiration to double that headcount over the next three years. The new office allows us to consolidate a number of business units in one location, as well as providing room for future growth.
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Mr Hughes added:
“We have grown consistently in Ireland in recent years and, as stability is restored to Ireland’s financial position and its international reputation, we believe there is opportunity for continued business growth, on both a domestic and international front.
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Dublin MEP Emer Costello said an increase in available employment is what is most needed in the capital.
“This is a welcome boost for Dublin,
? she said.
“The Government has made steady progress in rebuilding Ireland’s international reputation, which has seen investor confidence increase significantly.
“In doubling its Irish workforce, Capita have expressed real confidence in the direction of the Irish economy. It underlines the progress that has been made in Europe and globally in attracting investment to Ireland.
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Ms Costello pointed out that recent ESRI figures have predicted a 1.8 per cent growth in the economy this year, increasing to 2.7 per cent in 2014.
“It is the Government’s task to translate stability and growth into jobs, and we must now continue in this effort to further increase employment in Dublin,
? she added.
Meanwhile, it has emerged that Dublin SMEs have created 20 new jobs by investing in management development.
Business owners in nine Dublin based SMEs in a wide range of sectors took part in a Management Team Development Programme run by ManagementWorks.
And initial evaluation shows that participation in the course has already resulted in the creation of 20 new jobs (five full time and 15 part time) across seven of the companies.
Participants also reported a significant increase in sales and reduction in costs, as well as an overall improvement of their businesses.
ManagementWorks is an initiative of Skillnets that provides a range of subsidised management development programmes to small and medium enterprises under the Government’s Action Plan for Jobs.