IDA welcome relocation of Bank of America legal entities to Dublin

IDA Ireland has welcomed Bank of America confirmation that it has chosen Dublin as the preferred location for its principal EU legal entities following the UK’s departure from the EU.

IDA welcome relocation of Bank of America legal entities to Dublin

IDA Ireland has welcomed Bank of America confirmation that it has chosen Dublin as the preferred location for its principal EU legal entities following the UK’s departure from the EU.

The bank has not revealed how many jobs in Ireland will be created by the the move.

The decision was confirmed by Brian Moynihan, Chairman and CEO of Bank of America today at a meeting with An Taoiseach Leo Varadkar TD and IDA Ireland CEO Martin Shanahan.

The decision to consolidate its legal entities in Dublin will, it is suggested, ensure that the company can continue to serve its customers, both in Ireland and across the EU, after the UK leaves the European Union.

Taoiseach, Leo Varadkar, welcomed the announcement and said it was a strong endorsement of Ireland’s attractiveness as a location for investment, and of the Government’s approach to securing Brexit-related activities.

Martin Shanahan, CEO IDA Ireland said the decision reflected the importance of Ireland as a gateway to the Single Market.

"As the only English speaking, common-law jurisdiction in the Euro zone, Ireland is well positioned to provide certainty to companies servicing the European market in a post Brexit world.

“This is yet another very important signal to the market that financial services companies can come to Ireland and service their European customers with minimum disruption to their business.

“Ireland has the right mix of regulation, skills, experience and office space to make us a very logical place for financial services to locate,” concluded Mr Shanahan.

more courts articles

Man (25) in court charged with murdering his father and attempted murder of mother Man (25) in court charged with murdering his father and attempted murder of mother
Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van
Man in court over alleged false imprisonment of woman Man in court over alleged false imprisonment of woman

More in this section

FILE PHOTO The Competition and Consumer Protection Commission has cleared the purchase of Goodbody Stockbrokers by AIB END Goodbody Stockbrokers fined over €1.2m by Central Bank over rules breaches
Nottingham City Centre Stock Irish staff at the Body Shop wait for wages as retailer shuts stores in the Republic
Ryanair comments on Norwegian Ryanair boss O'Leary's spat with Transport Minister over Dublin Airport escalates
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
ie logo
Puzzles Logo

Play digital puzzles like crosswords, sudoku and a variety of word games including the popular Word Wheel

Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited