Dáil Éireann debate -
Wednesday, 16 Oct 1991

Vol. 411 No. 1

Written Answers. - International Financial Services Centre.

Enda Kenny

Question:

183 Mr. Kenny asked the Minister for Finance if, in relation to the International Financial Services Centre in Dublin, he will outline the companies that have contracted to operate there; and if he will make a statement on the number and value of jobs projected to be provided there.

Minister for Finance (Mr. A. Reynolds)

A list of companies approved to operate from the International Financial Services Centre as announced at 9 October 1991 is attached together with a brief description of their activities.

As of 24 September 1991, projects approved involve a job commitment of approximately 2,800 of which some 800 have already materialised. This is independent of jobs arising from the building and construction of the centre and in ancillary services.

The jobs provided already and committed are of very high value. The majority of the jobs are for graduates in accordance with the conditions of the tax certificates issued to companies which stipulate that the majority of those employed "will be financial executives or will otherwise hold a recognised professional qualification".

International Financial Services Announced Companies as of 9 October 1991.

Irish Company	Activities
1. Aachen Management Services	Captive Management and Investment Management
2. Irish European Reinsurance Company	Reinsurance
3. Cosmos Re	Reinsurance
4. Hodios	Group Reinsurance
5. ABB — Reinsurance Limited	Insurance Facilities for ABB Group Companies
6. ABN International Financial Services Company	International Asset Financing, Fund Management and Related Activities
7. Alcan Finance (Ireland) Company	Agency Treasury
8. Alexander Insurance Managers	Captive Insurance Management Services
9. AL Ireland Limited	International Financial Services
10. Allen, McGuire & Partners	Management and leverage buy outs
11. AGF International Advisors	Investment advice development of new financial products
12. AIB International Financial Services Limited	International Treasury, Investment Management, International Asset Financing and related Financial Operations
13. AIB-BSV	Credit Card Management and Processing
14. IBWA Finance Company Limited	Fund Management, Leasing, Factoring, Lending, Trade Financing
15. Alfa-Laval Group Limited	Direct Writing Insurance
16. Wingspan Insurance Limited	Reinsurance
17. AIG Investment Managers Limited	Fund Management and Insurance Services including Captive Insurance Management
18. Amtssparekassen Dublin Limited	International Financing Operations
19. Argus International Management Limited (AIM)	Captive Insurance Management
20. ASG Re Limited	Captive Insurance
21. BACOB Ireland Limited	Asset Financing
22. Barclays International Financial Services (Ireland) Limited (BIFSI)	Asset and Structured Finance, Financial Engineering
23. Bank of Ireland	Treasury Corporate Finance, Investment Management, Asset Financing
24. Bank of Ireland International Finance Limited	International Asset Financing and Syndications
25. Scotia Bank (Ireland) Limited	General Banking Services
26. BBL Finance Ireland Limited	General Banking Services
27. BAWAG International Finance Limited	Funds Management, Asset Financing, Securities Trading, Corporate Finance
28. Baring Brothers (Ireland) Limited	Custody-Trustee Services for Funds
29. International Fund Managers (Ireland) Limited	Fund Administration
30. BV Financial (Ireland) Limited	Corporate Fund Management
31. BCL Entertainment Corporation	Financial Services to the Entertainment Industry
32. Bikuben Dublin Limited	International Financing
33. Black & Decker Ireland	Corporate Treasury Management
34. Bavaria Insurance Company Limited	Captive Insurance operations
35. Bowring (Dublin) Limited	Insurance Broking
36. F.C.S. Currency Management Limited	Currency Management and allied Treasury matters
37. Cambridge Finance International Limited	Asset Financing, Treasury Management
38. CH (Ireland) Incorporated	Asset Financing, Fund Management
39. Capital International Financial Services Limited	Asset Finance arrangement and Advisory services
40. Celtic International Insurance Services Limited (CIISL)	Captive Insurance Management and Reinsurance
41. Centre Reinsurance International Company	Commercial Reinsurance
42. Chase Manhattan Bank	Securities Trading, Bank Treasury, Finance operations, Financial engineering-transactions, international treasury products. Investment in International Financial Instruments
43. Chase Bank (Ireland) Limited	Fund Administration, Custody and Trustee services
44. CHD Brokers Limited	Foreign Exchange and Currency Deposit Broking
45. Church & General Limited	Insurance-Reinsurance
46. Chilton & O'Connor	Arranging Finance for Municipal Bonds
47. Citicorp Finance Ireland Limited	Financial Engineering, Asset Financing and Fund Management
48. Cologne Re Insurance Limited	Reinsurance
49. Mutual Coyle Hamilton Management Limited (MCHM)	Captive Insurance Management
50. Colonia Insurance (Ireland) Limited	Insurance, Reinsurance and Captive Management
51. CICM (Ireland) Limited	Fund Management
52. Coyle Hamilton International Limited	Reinsurance Broking, Captive Insurance Management
53. Credit Lyonnais Financial Services Limited	Initially Asset Financing/Lending then Funds Management Securitisation
54. Daiwa Europe Bank plc	Global custody, Fund Administration, Related Advisory Services
55. Davy International Limited	International Stockbroking
56. DBCC Asset Management Limited	Asset Management Operations
57. Dresdner Int Finance Plc/Dresdner Asset Management Ireland Limited	Internal Group Financing and Fund Management
58. Eurco Re Limited	Reinsurance Insurance, Captive Insurance Management
59. Eagle Star International Services (Ireland) Limited	Fund Investment Management Captive Insurance Management
60. Electra Insurance/Ericsson Treasury Ireland Limited	Captive Insurance, Asset Financing, Treasury Management and related activities
61. Finance and Treasury International Limited	Corporate Treasury Management, Consulting and Agency services
62. Esselte (Ireland) Limited	Captive Reinsurance
63. Federated International Management	Fund Management
64. FBD International Financial Services Limited, Dublin	General Insurance Underwriting, Broking and other Financial Services
65. Fitzwilliam Foreign Exchange & Currency Brokers (Limited)	Foreign Exchange and Currency Deposit Broking
66. Ratos Finance Limited	International Treasury operations
67. Gandon Securities Limited	Diversified Trading, Corporate Risk Management International Structured Finance, Corporate Finance, Futures Fund Management
68. Gaiacorp Ireland Limited	Fund Management
69. General Electric Finance Ltd	Corporate Treasury Management
70. GE Capital Limited	Asset Financing with USA emphasis on Wang equipment
71. Global Asset Management Limited	Fund Management
72. FIIC Reinsurance Limited	Captive Reinsurance
73. International Bloodstock Holdings Limited	International Bloodstock Finance and Insurance
74. GPA Capital Dublin Limited	Aviation related Financial Services
75. Grand Metropolitan Finance Ireland Limited	Corporate Treasury Management
76. Gulfstream Insurance (Ireland)	Captive Reinsurance
77. International Health Benefits (Ireland) Limited	Health, Medical & Travel, Insurance/Reinsurance and related services
78. Merchant House International Limited	Securities Trading
79. Hibernian Group	Reinsurance, Non-Life Insurance including MAT Fund Management, Captive and Risk Management and Treasury Management
80. HP chemie-Pelzer	Treasury Management and captive Insurance Operations
81. HN Insurance Limited	Reinsurance
82. Hitachi Sales (Ireland) Limited	Captive Reinsurance
83. Helaba Asset Management Co	Asset and Fund Management
84. Fund Administration Custody & Trust Services Limited (FACTS)	Specialist Fund Management Services, Fund Administration, Custody, Trustee Services
85. IBM International Treasury Services Company	Corporate Treasury Management
86. Interpolis Reinsurance Services Limited	Reinsurance and Captive Management
87. ITCM	Dealing Room Facilities and Management
88. Iduna/Nova Reinsurance Company Limited	Reinsurance
89. ICC International Finance Limited	Asset Financing
90. Unison Management Dublin Limited	Captive Insurance Management
91. KB Financial Services Ireland Limited	Asset Financing and Corporate Lending
92. LMG Financial Services Limited	Corporate Treasury Management
93. MacDonagh & Boland Group Limited	International Insurance Brokerage and Captive Insurance Management
94. McInerney Properties Limited	Group Treasury and Treasury Advice Services
95. Marsh & McLennan Limited	Captive Insurance Management
96. Midland Montagu Limited	Fund Management Asset Financing International Lending, Treasury activities
97. Midtbank International (Dublin) Limited	International Lending
98. Mitsubishi Trust Finance (Ireland) Limited	International Financial Activities
99. Morgan Grenfell (Ireland) Limited	Fund Management, Asset Financing
100. North Wall Street Investments	Asset Financing Corporate Treasury Management and general Corporate Finance
101. North European Reinsurance Company Limited	Reinsurance
102. National Irish Bank Limited	Treasury Operations
103. Ulster Investment Bank	International Lending, Fund Administration
104. News Publishers Finance BV	Corporate Treasury Management
105. Nordstern Reinsurance (Dublin) Limited	Reinsurance
106. Orix Ireland Limited	Asset Financing and Securities Trading
107. Omero Financial Services	Corporate Treasury Management
108. Oppenheim International Finance	Trading of Securities
109. Fortia Re (Ireland)	Captive Insurance operations
110. PHH Corporation Financial Services (Ireland) Limited	Corporate Treasury Management
111. Merchant Overseas Financial Group Limited	Loan Brokerage Activities
112. Porsche Financial Management Services Limited	Factoring
113. Pfizer International Bank Europe	International Banking
114. Rabobank Management Company Limited	Asset Financing
115. R & V Insurance Group	Reinsurance activities
116. Reflex International Limited	Asset Financing with emphasis on IBM Equipment
117. Richmond Re	Reinsurance
118. Rudolf Wolff Fund Management Limited	Fund Management
119. Sanwa International plc	Fund Management
120. SBN (Dublin) Limited	International Financing Operations
121. Securitas Treasury (Ireland) Limited	Corporate Treasury Management and Captive Insurance
122. Sedgwick Dineen International Limited	Captive Insurance Management and Creditor Insurance Management
123. Sinser Insurance Services International Limited	Captive Insurance Management
124. Siemens International Financial Services	International Factoring, International Insurance Consultancy
125. Sparsyd Financial Centre Dublin Limited	International Financing Operations
126. Sumitomo Finance (Dublin) Limited	International Lending
127. SBC Investment Services Limited	Fund Management, UCITS
128. Smurfit Paribas Bank Limited	Banking and Funds Management
129. SCA Reinsurance Limited	Reinsurance
130. Stora Group	Reinsurance
131. International Risk Management Limited	Captive Insurance Management
132. SYDBK Dublin Limited	International Financing Operations
133. Aircraft Management Services Limited	Aircraft Financing Operations
134. VIL	Corporate Treasury
135. Volvo Trucks Limited	Corporate Treasury and Financial Software development
136. Volksfursorge Reinsurance Company Limited	Reinsurance
137. WestLB (Europa) Financial Services Limited	Investment and Treasury Management Structured Finance
138. Magasin Investment (Ireland) Limited	Foreign Exchange Stocks and Bonds
139. Westgen Reinsurance (Ireland) Limited	Reinsurance
140. Willis Wrightson Management Limited	Captive Insurance Management
141. Wuerttembergische Portfolio Management Company (WPM Company)	Investment Management
142. XL Europe Limited	Excess Liability Insurance
143. Zurich Insurance	Captive Insurance Management and other Insurance activities