Published: April 25, 2018
Today’s Ireland is in expansive mode, with an economy that regularly ranks among the fastest-growing in the world. Our place in the global international financial services sector is strongly-established. Our place in the EU and the Eurozone is central to the success of our open, competitive economy. The Irish government provides the necessary infrastructure and our people provide the impetus for best-in-class companies to locate and operate their global networks here.
Ireland is the seventh largest provider of wholesale financial services in the EU. With more than 500 international financial institutions, Ireland has become a world-leading centre for a variety of activities ranging from treasury to aircraft leasing. Firms located in Ireland provide financial services to every major economy in the world. International banks, investment managers, insurers, aircraft leasing operators and an array of other financial firms employ over 38,000 people and contribute €2bn each year in taxes.
More than 350 treasury entities have been approved to operate in Ireland.The activities carried out here include: inter-group lending/financing; cash pooling, netting, cash management; exchange and interest rate risk management; debt factoring; active management of group liquidity; cross-border leasing; and bond and commercial paper issuance.
“Doosan established its EMEA corporate treasury in Dublin, Ireland 10 years ago. When tasked with establishing new treasury processes and banking relationships, I found it quite helpful to tap into the network of the close-knit treasury community in Ireland to assist with issues, recommendations and best practice. Having easy access to such a wealth of knowledge is a major advantage when conducting treasury activities in Ireland.
The Doosan Bobcat EMEA treasury department has evolved with the business since its establishment in Ireland 10 years ago. While continuing to conduct the standard operational duties such as cash management, liquidity management, intercompany loan and payment processing, the team has taken the lead in areas such as global foreign exchange risk management and has also been a key participant in projects such as capital structuring, refinancing, disposals and legal entity consolidation.”
Keith Lynch, Director, EMEA Treasury, Doosan
“The Securitas experience for over 25 years has been very positive. Our Group Treasury Centre in Dublin has grown with the Securitas Group and has a global reach into 54 countries. The main functions performed from Ireland are external and internal funding of the Securitas Group; Foreign exchange; cash management; trade finance; bank relationships; treasury accounting etc. The quality of talent in in Ireland in the corporate treasury area is very strong due to the continued collaboration of the Irish Association of Corporate Treasurers and Dublin City University.”
Sean Grace, Group Treasurer, Securitas
John Bennett
John Bennett is Head of Treasury Relations, IDA Ireland and a member of IDA’s International Financial Services Division. He has worked in wholesale banking and corporate treasury for large international financial institutions and multinational corporates.
John is a graduate of Dublin Institute of Technology (DIT) and has also studied at Dublin City University (DCU) and University College Dublin (UCD).
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