German banking giant Deutsche Bank is planning to open a larger hedge fund administration office in Dublin.
Irish news outlet Independent reported that the new office, which will be Deutsche’s global fund administration center, will create up to 1,000 new jobs in the Irish capital. Dublin has become a competitive location for banking giants due to its well-structured low tax offering.
The article said that the bank, which currently employs 310 people in its Dublin office, is currently scouting a location for the launch.
Deutsche's fund services unit provides administrative, custodial and banking services to a variety of financial firms, including hedge funds, fund of hedge funds and private equity firms.