Risk Management Company To Set Up In Limerick

Industry leading firm AxiomSL has announced plans to establish operations in Co Limerick.

The office relocation to the National Technology Park in Plassey is hoped to create as many as 100 jobs over the next five years.

AxiomSL provides regulatory reporting and risk management solutions and gained support through IDA Ireland for the expansion.

The privately owned company has global headquarters in New York and offices throughout Europe, Asia and the Americas. Its flagship, data integrity and control platform, ControllerView®, empowers financial Institutions (FIs) to create transparent processes and deliver trusted data to meet regulatory reporting requirements and inform competitive intelligence across the enterprise.

The new business operations centre in Limerick will initially house technical support and product management for AxiomSL's RegCloud® offering.

RegCloud is AxiomSL's proprietary cloud-native service that enables FIs to bring the cloud's commercial, technical and operational advantages to their risk and regulatory data management and reporting initiatives, in a highly secure environment.

"With the rapid expansion of our RegCloud business, AxiomSL sought a strategic location with access to world class talent and the ability to expand service and support for our global client base," said Peter Tierney, Global Head of AxiomSL's RegCloud business. "The support from the IDA team combined with the proactive engagement from local universities caught our interest. The existing community of FinTech and RegTech companies and the deep pool of multi-lingual tech and financial talent became evident as we investigated further. This expansion to Limerick and the hiring of key talent within the region will enable us to leverage these skills to continue our growth efforts within Europe and around the world."

Welcoming the announcement, Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen welcomed the news, saying: "I am delighted to be present at the announcement of AxiomSL's new offices in Limerick. I very much welcome this development, which will bring up to 100 high-quality new jobs to the wider Mid-West region. Their decision to locate here is a significant boost to the Mid-West region, reflecting a vote of confidence in the capacity of our local people to provide the expertise and commitment necessary to support ambitious and progressive companies looking to grow and thrive."

IDA Ireland's, Executive Director, Mary Buckley, noted: "This is a terrific investment for the Mid-West region, creating as many as 100 jobs in the financial services sector. An investment of this scale will further raise the profile of the region for additional investment in financial services activities. It closely aligns to the Ireland for Finance strategy, which focuses on increasing financial services investment in regional locations. I wish AxiomSL every success here."



(JG/CM)