Press release
Minister Fleming welcomes record employment in international financial services in Ireland
Published on
Last updated on
Published on
Last updated on
Minister of State for Financial Services, Credit Unions, and Insurance, Seán Fleming TD, today (Thursday, 3rd of February 2022) welcomed the record level of employment in international financial services firms in Ireland. Speaking at the launch of the Ireland for Finance Action Plan for 2022, which has been approved by Cabinet.
The new Action Plan for 2022 has a sharper focus than recent years with 11 priority measures that were developed in partnership with industry to be delivered across 5 key themes;
These themes and the associated measures are focused on matching the capacity and resources of the IFS ecosystem in Ireland with the opportunities in global finance. The success of the sector in continuing to generate additional employment growth during the last two years is testament to the ability of Ireland to serve as a pool of talent for IFS firms to source the people they need to grow their businesses.
Minister of State for Financial Services, Credit Unions, and Insurance Seán Fleming TD stated:
“I welcome the news that there are over 52,800 people working across the country in international financial services, a new record high for the sector in Ireland. The resilience that the industry demonstrated in 2020 and 2021 made further growth possible and the results from last year give us an even stronger platform for the future.
I am delighted with the success that Ireland for Finance has delivered to date and to maintain the growth we will be carrying out a mid-term update of the strategy. The review will run alongside the implementation of the 2022 Action Plan and will inform the prioritisation of work for the remainder of the strategy and build on the success we have achieved.”
ENDS
About the Ireland for Finance Strategy
Ireland for Finance 2019 is a whole-of-government strategy to develop the international financial services industry to 2025. It is supported by ongoing collaboration between public and private stakeholders and educational institutions to ensure the talent and expertise of all three sectors can continue to be successfully harnessed to build on existing achievements and secure the ambitions set out in Ireland for Finance.
The Strategy is updated each year by means of annual Action Plans. This approach ensures that the Strategy remains relevant and up-to-date in identifying and addressing emerging challenges. Each annual Action Plan contains a list of measures to be actioned in that year with a responsible stakeholder tasked with leading on the execution of each measure.
The implementation of the Strategy is overseen by a public sector High Level Implementation Committee (HLIC) with specialist advice and assistance from an Industry Advisory Committee (IAC). This Joint Committee meets quarterly and it is chaired by Minister of State Fleming. The HLIC membership consists of senior officials of the Departments of the Taoiseach; Further and Higher Education, Research, Innovation and Science; Foreign Affairs; Enterprise, Trade and Employment; and Finance and the Chief Executive Officers of the IDA and Enterprise Ireland. The IAC includes key industry stakeholders such as representative bodies (secretariat), and senior executives from companies across the different international financial services sectors.