2 March 2021, Shannon, Co. Clare – IQ-EQ, a leading global investor services group, has today announced plans to expand its Irish operations with the launch of a dedicated Funds business in Ireland creating 45 roles over the next five years.
This move signifies the importance of Ireland as a funds domicile, particularly in light of recent changes to the Irish Investment Limited Partnership (ILP) legislation.
IQ-EQ provides a comprehensive range of compliance, administration, asset and advisory services to alternative funds, global companies, and private and institutional investors globally. This includes a 135-strong team in Northern Ireland, specialised in fund administration and depositary services, plus third-party alternative investment fund manager (AIFM) platforms in London as well as Luxembourg. IQ-EQ has been active in Ireland for over 30 years, providing a full range of corporate administration and structured finance solutions from its offices in Dublin and Shannon.
In expanding its Funds service segment into Ireland, IQ-EQ will be transferring a number of experienced key personnel from the group’s wider UK & Ireland cluster, including Belfast-based Eoghan Harney, who will hold the role of Director and Head of Fund Accounting. Completing the senior leadership of the new business will be Gary Palmer, former Chief Executive of the Irish Funds Industry Association (IFIA), who will join the Irish operation as Chairman and Non-Executive Director. A new Head of Transfer Agency is also set to join the business in March 2021.
The 45 new jobs created as a result of the expansion will be based from the Shannon facility and include roles in fund accounting, transfer agency and support functions.
Commenting on the launch, Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD said “I’m pleased to see that IQ-EQ is expanding in Shannon by creating 45 new jobs over the next five years. IQ-EQ has been long established in Ireland and the company’s launch of a dedicated Funds business here demonstrates its continued commitment to Ireland. I wish the team all the best with their expansion plans.”
IQ-EQ’s Managing Director for Ireland, Joanne McEnteggart, added: “Establishing a Funds business in Ireland was a logical next step for IQ-EQ which has operated in Ireland for the last 30 years. In fact, taking this step was very much a client led initiative with many of our clients and intermediaries looking to us to set up a funds operation in what is recognised as a key funds domicile. This is an important milestone not only for the Ireland team but for the Group as a whole as it takes us one step closer to achieving our strategic objective of becoming the most complete independent provider to alternative asset managers globally.
We very much welcome the support of IDA Ireland in facilitating us in bringing our funds expertise, reputation for high quality service and focus on technology to the Irish funds industry.”
Martin Shanahan, CEO of IDA Ireland said: “Today’s announcement by IQ-EQ to expand its operations in the Mid West is a welcome addition to the region’s Financial Services cluster and is aligned to IDA Ireland’s strategy to win jobs and investment for regional locations. This expansion is a solid endorsement of the strong talent pool available in the region. I wish IQ-EQ every success.”
IQ-EQ achieved authorisation as a fund administrator from the Central Bank of Ireland on 15 December 2020 and its new Irish Funds business will go live operationally on 18 March 2021.
IQ-EQ is a leading investor services group that brings together a rare combination of global technical expertise and deep understanding of client needs. We have the know-how and the ‘know you’ to provide a comprehensive range of compliance, administration, asset and advisory services to fund managers, multinational companies, family offices and private clients operating worldwide.
IQ-EQ employs a global workforce of 3,400+ people located in 23 jurisdictions and has assets under administration (AUA) exceeding US$500 billion. IQ-EQ works with six of the top 10 global private equity firms.
Also part of the IQ-EQ group of companies are First National Trustee Company (FNTC), Lawson Conner, Equitis, The Private Office, Peru & Partners, Blue River, Conseil Expertise & Synthèse and Constellation Advisers.
To find out more about IQ-EQ visit www.iqeq.com
To find out more about IQ-EQ Ireland funds visit https://iqeq.com/funds/ireland-funds