Eli Lilly to establish European Financial Services Centre in Cork

Pictured are Minister for Enterprise, Trade and Innovation, Batt O’Keeffe T.D., Kay Flynn, Snr. Finance Director, European Shared Services, Eli Lilly and Denis Molumby, Executive Director, IDA Ireland.

The decision to locate this important operation in Cork was based on our track record here, the availability of a skilled workforce, language ability and the presence of a strong shared services base here in Ireland. We look forward to continuing our success in Ireland with this new venture. We recognise and appreciate the continued support and partnership of the IDA as we extend Lilly’s footprint in Ireland

Cork, Ireland, 9th July 2010 ---- Minister for Enterprise, Trade and Innovation, Batt O’Keeffe T.D, today announced that Eli Lilly and Company, one of the leading pharmaceutical companies in the world, is to establish a European Financial Services Centre in Cork.  The company plans to create up to 100 new high-skilled finance positions at the operation, the majority of which are to be recruited by the end of Quarter 1, 2011.  IDA Ireland worked closely with Eli Lilly to attract this investment to Ireland against significant competition from other European locations. 

Headquartered in Indianapolis, Indiana, Eli Lilly employs nearly 40,000 people worldwide. The European Financial Services Centre, to be located in Cork City, will support Lilly’s European operations, providing general accounting, order-to-cash and purchase-to-pay activities.  Recruitment for finance professionals will commence immediately and it is planned that the centre will be fully operational in 2011.  

Speaking at the announcement, Minister O’Keeffe said: “'The Government has worked closely with Eli Lilly to secure this investment in Cork and the firm's decision to invest in the county attests strongly to the academic calibre of the local labour pool and the quality of our higher education institutions”.

“Eli Lilly is a firm known the world over for high standards of quality and innovation in pharmaceutical products. We have shown again to the world that we can attract strategic investments from leading multinationals by providing the right mix of skills, workforce flexibility and pro-business policies to support business expansion plans and create jobs for our people. The Cork team deserves high praise for attracting this new investment for Ireland” he added.

Speaking on behalf of the company, Kay Flynn, Snr.Finance Director, European Shared Services said: “The decision to locate this important operation in Cork was based on our track record here, the availability of a skilled workforce, language ability and the presence of a strong shared services base here in Ireland. We look forward to continuing our success in Ireland with this new venture. We recognise and appreciate the continued support and partnership of the IDA as we extend Lilly’s footprint in Ireland”.    

Commenting on the announcement, IDA Ireland’s CEO, Barry O’Leary said: “This investment is strategically important to Ireland and Eli Lilly, and is a welcome addition to the growing number of leading pharmaceutical companies who have recognised the benefits of locating Financial Shared Services Centres here.  Today's announcement by the company fits neatly with IDA Ireland's, Horizon 2020 strategy - IDA Ireland places a strong focus on winning services-based investment and assisting companies to win new international mandates for Ireland, strengthening their strategic importance to their parent company.”

Media contacts –

IDA Ireland –
Thomas McEvoy, Press & PR, Tel: +353 (0)1 603 4255 / Mob: +353 (0)87 742 6684
Gillian Lawless, Press & PR, Tel: +353 1 603 4095/ +353 87 905 0699

Other Enquires-
Lilly_SSC@ida.ie