07 Feb 2018 | 11.05 am
Bank Of Ireland Opening Second FDI Hub
Stephen’s Green success inspires additional hot desk spaces
07 Feb 2018 | 11.05 am
Bank of Ireland is to open a second FDI Hub in Dublin targeting international companies considering locating in Ireland, following the success of its first such hub, which opened on St Stephen’s Green just under a year ago.
The new hub, which will complement the existing space on Stephen’s Green, will provide complimentary office and meeting space for companies planning to set up here. Between the two, the bank will now offer 55 hot desks and seven meeting rooms for FDI companies, and will also provide these companies with spaces at the bank’s ‘workbenches’ in Cork, Galway, Limerick and Kilkenny.
Chief executive Tom Hayes said: “Today’s announcement further strengthens our support for international companies based in Ireland and also adds to our strong network of start-ups and workbenches across the country.
“Launching a second FDI Hub, in just under a year from when we opened our first, is testament to how successful this initiative is. We look forward to welcoming and supporting a new crop of international companies in the weeks and months ahead.”
Hayes referenced Nauto, a company which has been working at the Stephen’s Green hub for five months.
“It is fantastic to see Nauto, one of over 30 FDI companies who have directly benefited from our Stephen’s Green hub, going from strength to strength and announcing significant growth plans for the Irish market. It’s also great to see the breadth of countries where the companies are from, showing that Ireland is firmly on the map for companies exploring their post-Brexit options. In particular, we have noticed an increase in companies coming to us from countries that would have normally focused FDI activity in the UK.”
Nauto focuses on retrofitting commercial vehicle fleets with networked safety camera-equipped devices, and at present has more than 120 staff worldwide with four based in Dublin. It has just announced the addition of their first engineering jobs and plans to double the technical team in Dublin to support the European market.
The firm’s head of Europe Frank Bunte said: “The Bank of Ireland FDI Hub in Stephen’s Green has been a tremendous asset that is helping Nauto build our European headquarters and Dublin team. Bank of Ireland’s FDI team expertise has greatly benefitted us as we develop our European business from our base in Ireland.
“We are delighted to announce our additional expansion plans and strong commitment to supporting the Irish economy today, and we appreciate the help and support we received from the IDA and Bank of Ireland.”
Photo (l-r): Sean L’Estrange, Tom Hayes and Carolyn Quinlan, Bank of Ireland, with Frank Bunte and Barry O’Dowd, IDA Ireland