Press Release 27 Jan 2016

Dublin, Wednesday 27th, January 2016 - Leading global financial institutions, policy makers, entrepreneurs and innovators will participate today in the inaugural European Financial Forum in Dublin Castle. The Forum, to be opened by the Taoiseach Enda Kenny T.D., will provide an opportunity for key international and Irish decision-makers to debate a range of key challenges and issues facing the European and global financial services sector.  It will also serve to showcase Ireland's role in the global financial services industry with International delegates from Australia, Japan, Singapore, US and Europe in attendance.

The hosting of the Forum and the launch of a new banner brand are key commitments in IFS2020, the Government's International Financial Services Strategy 2015-2020. The Forum has been developed by State agencies, IDA Ireland and Enterprise Ireland, and organised by the Financial Times on behalf of the Government.

Forum speakers include Philip Lane (Governor of Irish Central Bank), Colm Kelleher (President, Morgan Stanley), Timothy O'Hara (CEO Global Markets, Credit Suisse), Doug Dachille (Chief Investment Officer, AIG), and Marty Lippert (Executive Vice President, Global Technology & Operations MetLife Inc). Other speakers include the recently appointed Head of the UK’s Financial Conduct Authority, Andrew Bailey and Director of Regulation at the European Banking Authority, Isabelle Vaillant.

The new ‘IFS Ireland’ banner brand, developed through a process of consultation with industry, aims to enhance and maximise the impact of Government and Industry bodies promoting the industry internationally.  It will be supported in the marketplace with a plan developed in co-ordination with Industry and will be unveiled by Minister Harris at the Forum this afternoon.

An Taoiseach, Enda Kenny TD said: “This forum will build on Ireland's reputation as a leading location for international financial services by allowing senior executives from the international financial services market to hear about why Ireland is a great place to locate their business.  The IFS Ireland brand will also help build on the very strong job creation achieved in the sector in 2015 as part of our long term economic plan to keep the recovery going."

Speaking today Minister Harris said: “Today’s Forum and launch of the ‘IFS Ireland’ brand are landmark deliverables for the Government’s International Financial Services’ strategy.  They embody the strategy’s ambition to promote this sector of our economy through more and better engagement within the public sector and in partnership with the private sector.  I look forward to the Forum as an opportunity to examine the major challenges facing the European and global financial systems, and to highlight the dynamism of international financial services in Ireland.”

Martin Shanahan, Chief Executive of the IDA said: ``International financial services is a vital industry for the Irish economy and IDA Ireland works with a strong portfolio of companies in the sector. The European Financial Forum is an opportunity to raise the profile of the sector further and provide a platform for leading industry players to discuss how they see the industry evolving over future years. IDA believes this event and the new brand for the sector will strengthen Ireland's overall proposition in this most globalised of industries.''

International financial services is a vital industry for the Irish economy and IDA Ireland works with a strong portfolio of companies in the sector. The European Financial Forum is an opportunity to raise the profile of the sector further and provide a platform for leading industry players to discuss how they see the industry evolving over future years. IDA believes this event and the new brand for the sector will strengthen Ireland's overall proposition in this most globalised of industries.

Martin Shanahan, CEO, IDA Ireland

Julie Sinnamon, Chief Executive of Enterprise Ireland said: "The European Financial Forum will help to raise the profile of the International Financial Services sector in Ireland and we are delighted to support the development of the new brand for the sector. Enterprise Ireland client companies currently employ over 8,500 people in the sector with combined sales of over €1bn. IFS start-up activity is also at an all-time high with activity doubling from 2014 to 2015 Enterprise Ireland will continue to support startups operating in areas as diverse as RegTech, Alternative Investment Fund Management, Non-bank lending, stock market investment tools and payments solutions to scale internationally."

The key theme of the Forum is to explore current issues and challenges facing the European Financial System with a particular focus on areas such as disruptive technologies and increased regulation.

It positions Ireland as a key player in the IFS industry as a committed member of Europe with deep ties to the US and a strengthening relationship with Asia.

IDA has used the Forum as an opportunity to schedule a series of meetings with key senior decision makers that are attending, in addition to a series of engagements by IDA representatives and the existing clients and target companies among the delegates.

Information the speakers and theme of the Forum are available at: https://live.ft.com/Events/2016/European-Financial-Forum

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