Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor TD today announced that MDO Management Company S.A., a privately held company based in Luxembourg, is to establish a branch in Dublin. MDO Management Company Ireland plans to create 30 roles in risk management, compliance, business development and administration over the next few years.

The company is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.

MDO Management Company currently acts as a management company for over 50 funds (UCITS and AIFs) with assets under management exceeding EUR 22 billion. Incorporated in 2003, MDO delivers quality solutions for management company services, directorships, oversight, risk management and compliance monitoring and is one of the largest independent management companies and substance providers in Luxembourg.

Welcoming the announcement Minister Mary Mitchell O Connor said “the company’s decision to invest in Ireland and locate in Dublin and creating 30 high quality roles represents a further enhancement of Ireland’s thriving Financial Services Sector. I look forward to the success of MDO’s operations here and I am confident that they will get the specialist skills required and that Dublin will represent an exciting new base for the company”

Martin Vogel, CEO of MDO Management Company said, “We are delighted to announce that we are opening a branch of our award winning Management Company in Ireland, to provide a comprehensive range of services to existing and new clients.”

Commenting on the announcement Martin Shanahan, CEO, IDA Ireland said “Over the last 20 years, Ireland has earned a reputation as a leading jurisdiction for regulated investment funds. MDO Management Company is a welcome addition to the growing cluster within IDA’s Financial Services portfolio of companies active in managing and servicing alternative funds.”

MDO Management Company, Ireland will be headed up by Richard Dinn, formerly Investor Services Sales Head for Northern and Eastern Europe at Citi. Richard, who has spent the majority of his career at Citi in London and Dublin with EMEA wide remits, brings over 20 years of experience to MDO Management Company, Ireland.

Martin Vogel added, “We are very pleased to have Richard heading up our operation in Ireland. Richard has great enthusiasm and a proven track record, successfully managing and delivering solutions to clients globally. We are looking forward to a bright future for our operations in Ireland and Luxembourg.”