| IFSC Ireland chair sees jobs potential in international financial services |
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| In his first public address since being appointed chairman of IFSC Ireland, John Bruton said he can see the international financial services industry having an even greater impact on jobs creation in Ireland. |
John Bruton, in his first public address since being appointed chairman of IFSC Ireland, said he can see the international financial services industry having an even greater impact on jobs creation in Ireland. Speaking at the Federation of International Banks in Ireland annual lunch, Bruton highlighted the positive impact the IFSC has on the Irish economy and the number of jobs it creates citing 25,000 directly employed in banking, funds and insurance.
'A key figure in the industry, Willie Slattery, pointed out last weekend that the economic downturn has had a side effect of making Ireland more competitive because it has led to a significant reduction in relative labour, office accommodation, and other costs in the past two years. The reduction in housing costs will also have helped in attracting staff here from overseas.' said Bruton.
'I believe it is critical that Ireland has a reputation as a thorough, rigorous, and pragmatic regulator of the industry. These three characteristics complement one another. Nothing is to be gained either by laxity or rigid formalism. At the end of the day, it is all about winning and holding trust, and in that there is no divergence of interest between regulator and regulated’.
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