What the IDA brings to the table is providing opportunities for organisations like ourselves to connect with and observe the evolution of organisations in other industries, and that’s very powerful. We were introduced directly to some of the largest fintech firms in Dublin, we met their top management and we learnt how they’re organising delivery and managing their innovation.

Declan Quilligan

head of hedge fund services, Citco Ireland

Why Ireland for Citco

The Citco group of companies (Citco) is a network of independent companies worldwide. The companies are leading providers to the alternative investment industry, servicing more than $2 trillion in assets under administration. 

Well established in Ireland

The company has had a presence in Ireland since 1999, when it established operations at the International Financial Services Centre (IFSC) in Dublin. This office has expanded considerably since then and in 2006, Citco launched a second site in Cork that also has a significant team.

Many of the Citco leadership based in Ireland also have global remits, with teams worldwide, and the company sees Ireland as a strategic office, where there are representatives across most business lines in the organisation. Citco’s Irish operation also includes a technology solutions centre for the firm’s core bespoke platforms. 

Support for training and upskilling

IDA Ireland has supported the company over a long period in research and development across several projects. In 2023, Citco availed of a training grant scheme from IDA Ireland, which focused on four areas linked to the company’s strategy: supporting the expansion and growth of key business lines, strengthening leadership capabilities, enhancing frontline manager skills, and equipping its people with expertise in the latest technologies. 

The company already reports positive outcomes from the programme, including “significant improvements” in staff engagement scores with frontline managers. Citco is also carrying out feasibility studies for a multi-year transformation project to adopt generative AI within the business.  

How Ireland helps Citco

• Presence in Ireland since 1999, since expanded to two locations
• Dublin office has grown significantly; a second site was added in Cork
• Irish operation includes a technology solutions centre for Citco’s core platforms
• IDA Ireland support key to wide-ranging R&D and training initiatives