While the U.S. equity markets are suffering from a holiday hangover with light trading and interest seen, one bulge broker is expanding its business into Ireland.
Credit Suisse has announced that it has opened a front office trading floor in Dublin. Ireland that will extend the firms Prime Services business. Taoiseach Enda Kenny has been charged with getting the new trading floor operational.
The opening of the new floor will house around 100 positions in Dublin, including 40 trading, risk and capital professionals and 60 support roles. The floor is seen as vital to the firm is exntedning it global reach, particularly in Europe.
The key parts of the Prime Services business that will operate out of this location include Prime Brokerage, Prime Financing and Securities Lending, all of which serve clients across global markets. The Dublin operation will handle the trading, capital and risk management for the business while the salespeople and relationship managers will remain in London due to client proximity.
We are delighted to officially open the first Credit Suisse trading floor in Dublin today, said Tim OHara CEO of Global Markets at Credit Suisse, in a statement. We have made considerable investment in infrastructure and technology, all of which will help enhance our client offering.
The opening of the Credit Suisse AG Dublin Branch (CS AG) follows the Central Bank of Irelands announcement in December that it had authorized the bank to establish a branch in Ireland. The branch will be located at Kilmore House in Spencer Dock, at the heart of the IFSC.
