Ireland has positioned itself as a global hub for financial and professional services serving every major economy across the world. Hosting companies such as J.P. Morgan, Citi, Bank of America, State Street, Mastercard, BNP Paribas and many more, the Irish financial services market is thriving. Over the past 40 years, banks, insurers, accountancy firms and aircraft leasers have made Ireland their home.

Statistics SnapshotDublin is home to 22 of the top 25 global financial services firms

  • Over half of the global systemically important banks operate in Ireland
  • Ireland is a world leader in aviation leasing – more than 60% of the world’s aircraft are leased from Ireland.
  • 11 of the top 15 global insurers are based in Ireland, as are the top 5 global reinsurers and the top 3 global insurance brokers,
  • Ireland is a major global hub for cross-border distribution of investment funds and Irish funds are sold in 90 countries across Europe, Asia and the Pacific, the Americas, the Middle East and Africa
(source: https://www.gov.ie/en/publication/322dd-financial-services-hub/ )

The international banking sector was significantly impacted by Brexit which meant the relocation of many of the worlds largest banks. The ECB ranked Ireland 2nd in terms of the size of the value of assets moved into EU banks following the Brexit vote. Although Ireland had been building a substantial financial services directory, the impact of Brexit certainly accelerated the process.

Ireland has extended its financial services hub from the Dublin Docklands to around the country to Cork, Galway, Kilkenny, Limerick, Waterford and more. The regional potential of Ireland also offers firms cost efficiency and talent retention opportunities. The Irish workforce also boasts some of the world’s best educated and highly skilled workers with specialities in technology, data and finance. Ireland also has a strong record in nurturing its own financial services innovators. Online payment processing giant Stripe was set up in 2010 by two Irish brothers, Patrick and John Collison, and today operates from dual headquarters in Dublin and California. Other success stories include international payments firm TransferMate, revenue-based finance and marketing analytics provider Wayflyer and currency hedging specialist Assure Tech.

In an effort to further improve its market position, Ireland has shown itself open to enacting regulatory reforms when needed. Ireland’s Investment Limited Partnerships (ILP) Act, for example, came into force in late 2020 and modernised the rules for private equity investors, making the country even more competitive for private investment funds, particularly those based in Asia, the US or other parts of Europe.