Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD and IDA Ireland today welcomed the announcement by Deutsche Bank that the company has opened a data lab in Dublin that will create 40 new jobs. The company also announced plans to create a further 125 Technology and Operations roles in Dublin supporting its Global Markets and Corporate & Investment Banking divisions.

The data lab, known as The Hive, will be a global centre of excellence for the Bank.
Minister Mary Mitchell O’Connor, in warmly welcoming this investment, said “this project by Deutsche Bank represents a great vote of confidence in Ireland and its attractions for Financial Services companies. The new data lab builds on the bank’s strong investment and job creation here over recent years and the provision of an additional 165 quality jobs is very welcome indeed. The Government has been making strenuous efforts to ensure that we have the right conditions in place in Ireland to continue job creation across the country. I look forward to a long and fruitful engagement with the company over the coming years and I am confident that this decision will be mutually beneficial for the company and for Ireland”

Commenting on the addition of the Data Lab and expansion planned by the bank for Dublin, Mr Martin Shanahan, Chief Executive of IDA Ireland said: “Deutsche Bank’s choice of Dublin for its new data lab is a great endorsement of the technology talent and expertise here. The addition of another 125 jobs following on from the company’s announcement of 700 jobs just three years ago clearly shows potential investors that Ireland is a compelling location for international financial services where global companies can build large teams in a relatively short space of time due to the quality of the workforce available to them.

“A key part of IDA Ireland’s international financial services strategy is to attract more investment in the FinTech space. Dublin’s track record in international financial services and technology cluster creates a business environment for companies to develop and implement their innovation strategies. IDA is determined to win more investment for Ireland in this area,” concluded Mr Shanahan