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News : Irish Economy Last Updated: Feb 14, 2011 - 11:52 AM

Fidelity Investments - - the US investment giant -- to add 100 new jobs in Galway and Dublin
By Finfacts Team
Feb 14, 2011 - 11:47 AM

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Fidelity Investments, the US investment giant, today announced that it will add 100 new jobs at its facilities in Galway and Dublin.

Fidelity will hire 100 highly skilled technology professionals who will focus on Investment Management and Corporate Enterprise technology solutions for Fidelity’s global operations. The initiative, which represents an investment of €11 million by Fidelity over three years, is supported by IDA Ireland.

“The addition of 100 highly skilled technology jobs is an excellent endorsement of Ireland’s flexible workforce,” said IDA Ireland CEO, Barry O’Leary. “Fidelity’s investment shows our capacity to provide an increasingly competitive, business-friendly environment in which technology companies can grow and develop. Fidelity has one of the largest R&D divisions within the multinational financial services sector operating in Ireland and IDA Ireland is delighted to work closely with the company as it embeds its operations further here.”

Fidelity Investments established its presence in Ireland in 1996 and currently has more than 240 technology associates working at office locations in Galway and Dublin. Technology associates in Ireland support multiple Fidelity business divisions in the United States, Europe and Asia, including Asset Management, Corporate Technology, Information Security and Enterprise Infrastructure.

Fidelity said the expansion is strategically important and will further enhance its Irish operations. The new positions will be part of Fidelity Technology Group (FTG), which is responsible for the company’s technology research, services and operations. FTG provides a diverse range of technology projects that touch almost every aspect of Fidelity’s global businesses including portfolio monitoring and trading, voice recognition systems, user interface design, business process management (BPM) and workflow transaction processing and fund pricing and market data technology. Fidelity’s new technology associates will be engaged in software development such as Java and .NET, performance and test engineering, database development and management, systems analysis and QA. The new jobs range from entry level to management positions.

“Ireland is a proven market in which Fidelity can continue to develop a vital part of our global technology organization,” said Julia Davenport, senior vice president of Fidelity Investments. “By expanding here, Fidelity is making a strategic, long-term decision to invest in a region with a well-educated, highly skilled workforce from which we can draw the quality talent needed to provide services across the firm. We’re so pleased to be collaborating with the IDA as well as our partners at several outstanding Irish universities.”

Davenport said that with financial markets active around the clock and Fidelity operating in multiple, global financial markets simultaneously, it's imperative that the firm's technology division has the resources to power Fidelity's world-class asset management and research organization. With this initiative, FTG is well-positioned to further expand its current operations in Ireland and enhance its contributions to future technology projects. The quality of the Irish workforce, the success of Fidelity's existing operations in Ireland and the research carried out in Irish universities were key factors in the company's decision to expand here.

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