INFO AGENDA
Presidents and policy makers converged upon Dublin in January for the inaugural European Financial Forum. Fittingly hosted in historic Dublin Castle, the assembly of captains of industry from across the world was a testament to the esteem Ireland is held in by its peer countries. Internationally renowned panellists and high calibre speakers set the stage for a day of expansion and opportunity. Developed by State agencies,
IDA Ireland and Enterprise Ireland, and organised by the Financial Times on behalf of the Irish Government, the event was attended by over 600 leaders in the financial sector from as far afield as Japan and Australia.
IFS2020FS
IFS2020 is the Irish Government Strategy for the development of Ireland’s international financial services sector with a main target of creating an additional 10,000 net new jobs between 2015 and 2020. It is a ‘whole-of-Government’ approach utilising the talent, technology, innovation and client service available here. The strategy is off to a positive start with a recent Progress Report highlighting that 29 of the 30 actions outlined in the 2015 action plan have been completed on schedule. Employment in the sector has increased by 2,608 – well in line with the growth needed to achieve the IFS2020’s target by 2020.
ifsireland.com
With over 35,000 people directly
employed in international financial services in Ireland, the sector is important on a domestic and international level. The one-day forum, which was part of IFS2020, the Government’s International Financial Services Strategy 2015-2020, served to highlight Ireland’s strengths in this area and facilitated wider industry debates. EntitledBuilding the Future
of European Financial Services, the event offered an opportunity for analysis of the current global impacts on the financial industry and an exploration of where potential lies for the future. In his welcome speech
Taoiseach Enda Kenny TD discussed Ireland’s position as the fastest growing economy in Europe. He said, “Our competitiveness continues to improve. We’ve moved from 24th in the IMD ranking in 2011 to 16th in 2015, we’ve moved up to 17th in the World Bank survey on Ease of Doing Business. There is a very full pipeline of potential investment looking at Ireland given the scale of what we can do with our flexible education system, the best demographics of many countries in Europe and the quality and talent of the pool that’s out there.” Philip Lane, Governor, Central
Bank of Ireland gave the opening keynote address at the event saying, “The appropriate development of the European financial system is critically important for the prosperity and stability of the European and global economies and will have a broad impact on the wellbeing of all European citizens.” Financial heavyweights also in attendance included Timothy
Dublin Castle
IDA
Ireland CEO,
Martin Shanahan
IDA
Ireland Chairman, Frank Ryan
P. O’ Hara, CEO, Global Markets, Credit Suisse and Colm Kelleher, President, Morgan Stanley. O’Hara spoke of the opening of
the Dublin branch of Credit Suisse, which took place on the same day as the forum. “A number of years ago we concluded we wanted to make an investment in our prime services business in Europe.” Isabelle Vaillant, Director of
Regulation, European Banking Authority took part in a panel discussion, Evolving Regulation: How is it shaping Financial Services?
She described Ireland as, ‘such a key country for the European project.’ The forum also introduced
the new IFS Ireland banner brand, designed to promote Irish Financial Services and build awareness of Ireland in the IFS arena. Martin Shanahan, IDA CEO said, “International financial services is a vital industry for the Irish economy. This event and the new brand for the sector will strengthen Ireland’s overall proposition in this most globalised of industries.’’
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