Alternative investments player Alter Domus is to substantially increase headcount at its European Centre of Excellence in Cork.

Cork awoke today (28 January) to the news that fintech player Alter Domus is to create 100 new jobs.

The company is investing in a new workplace for the future at Cork Airport Business Park, allowing the business to scale.

“The creation of 100 new highly-skilled jobs at the Alter Domus European Centre of Excellence in Cork shows the rich pool of talent we have in this country”

From Cork, Alter Domus operates a European hub for global private debt, private equity, real estate and infrastructure investors and managers supporting over €1 trillion in assets under administration globally.

With offices in Cork and Dublin, Alter Domus has already invested significantly in its Irish operations, having increased its headcount in Ireland from 100 to 180 people in 2020.

Local talent is key

As well as expanding its Centre of Excellence the company will also continue to invest in its partnerships with third level institutions locally. This will include the enhancement of both graduate and internship programmes that will become a key source of top talent of the future. Annual intake for each of these programmes is expected to double this year.

“The creation of 100 new highly-skilled jobs at the Alter Domus European Centre of Excellence in Cork shows the rich pool of talent we have in this country,” said Ireland’s Taoiseach Micheál Martin, TD.

“The company’s 10-year commitment to Ireland as a leading player in the alternative investment industry has been an important part in that success story. There will be even greater opportunities in the Financial Services sector in years to come and the innovative graduate development paths provided by Alter Domus will help ensure future growth.”

Globally, Alter Domus recruited over 700 people in 2020 including 80 people in Ireland. In addition to organic growth, Alter Domus continues to grow by acquisition. Most recently, in December, the Company acquired Boston-based fund administrator, IPS Fund Services and London-based fintech, Credit-Vision and, in January, acquired Utah-based Strata Fund Solutions LLC. Alter Domus is targeting significant further organic and acquisition growth in 2021, part of which will be driven by the expansion of its services and capabilities in the Irish market.

“Our Irish operations have played a key part in our growth to become a leading global provider of fund administration and asset servicing dedicated to the alternative investment industry,” said Heather Crowley-Kerr, head of Operations Europe at Alter Domus.

“We are delighted to announce the creation of 100 new jobs in Ireland and, in particular, at our European Centre of Excellence in Cork. Ireland offers a strong talent pool from which to grow. This includes both experienced professionals from the alternatives fund services industry and also access to quality third-level graduates. Our ability to attract talented professionals with a rewarding career path together with the development of a sophisticated training academy has aided our ability to grow rapidly in 2020 and we expect this to continue in 2021.”

IDA Ireland CEO Martin Shanahan said the expansion endorses the talent available in Ireland’s south west.

“Alter Domus first established in Ireland in 2011. Since then it has significantly expanded its presence in Dublin and Cork.

“Today’s announcement to create 100 roles at its European Centre of Excellence in Cork, endorses Alter Domus’ confidence in the availability of a high skilled and talented workforce in the south west and demonstrates IDA Ireland’s continued commitment to winning investment for regional locations. I wish Alter Domus every success with this expansion.”

By John Kennedy (john.kennedy3@boi.com)

Published: 28 January 2021

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