Cayman Islands: DMS Announces 50 New Jobs In Dublin By 2017
Last Updated: 8 August 2016

DMS Governance Ltd. (DMS) aims to create 50 new jobs in Dublin by 2017, as the firm continues to expand its Ireland offices, the center of its European operations.

The 50 new roles will be in the areas of risk, trade execution, verification, settlement, investment management support and governance, and mark the continuation of a growth process that began in May 2014. Back then, DMS announced the creation of 50 jobs in fund governance and risk management over a two-year period. Having exceeded those expectation, DMS is now poised for further growth and has recently relocated to new offices to accommodate its growing staff. DMS already employs 50 people at its Dublin office, and will double the number by 2017.

Ireland's Minister for Jobs, Enterprise & Innovation Mary Mitchell O'Connor, made the announcement on behalf of DMS on Thursday, July 28 at an event to celebrate the opening of the firm's new bespoke offices.

"DMS is to be commended on reaching their target of 50 jobs ahead of schedule and are now in a position to create a further 50 new jobs. This announcement is further evidence of the Government's commitment to job creation. One of my priorities as Minister is creating an environment where job growth can thrive. I believe only a strong economy supporting people at work can pay for the services needed to create a fair society. I wish the DMS team every success in their new offices," the Minister stated.

DMS's growth plan is also supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.

Martin Shanahan, CEO IDA Ireland said: "Ireland's international financial services sector is an integral part of our foreign direct Investment portfolio here at IDA Ireland. Ireland has seen significant investment in financial services over the past year, proving how attractive Ireland's offering is. Today's announcement by DMS will further enhance Ireland's profile within the fund servicing industry globally. I wish the DMS Irish team every success with this expansion and offer the continued support of IDA Ireland in the future."

Speaking on behalf of DMS, Managing Director for DMS Europe, Derek Delaney said:"This is the second jobs announcement for DMS in the Dublin market. We had anticipated that the 50 jobs announced two years ago would take us to the end of 2017. However, demand for Irish regulated funds has increased significantly in the interim and DMS is both fortunate and proud to be recognized as the standard bearer for the provision of management company services to U.S., U.K., European, Asian and other investment managers since coming to the European market.

"I put our continued success down to three main factors. Firstly, DMS has the best staff in the European market place and clients depend on their professionalism, hard work and problem solving abilities.

"Secondly, the Central Bank of Ireland and the Irish regulations governing Irish funds are both clear and transparent in a manner that is refreshing to the international market.

"And finally, our service partners in legal, administration, depositary, audit and independent directors are top quality, dedicated professionals who mirror DMS's value. It is to the Irish Funds industry's immense credit that this is true, even of our competitors!"

Also represented at the event was Efficient Capital Management, LLC, which recently launched its CTA Index Fund to the DMS UCITS ICAV platform.

Lorent Meksi, Managing Director of Efficient Capital Management, LLC stated: "The innovative investment solutions from DMS allow us, in our role as Investment Manager, to bring our passion for managed futures and our expertise with the CTA investment universe to institutional investors and qualified individuals. We look forward to a continued partnership with the DMS team and are very excited to hear around their continued growth in the Irish market. The strong legal and regulatory landscape that Ireland affords is the ability to successfully provide regulated investment vehicles to institutional and qualified investors with a recognized global UCITS and AIFMD brand."

DMS Ireland is the largest operation outside of the firm's Cayman headquarters and controls the DMS Internationalization Strategy. The new offices are located at 76 Lower Baggot Street, Dublin. DMS also has offices in New York, São Paulo, London, Luxembourg and Hong Kong.

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