Industry & Business

DMS Announce Expansion at its Irish Operations

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DMS Announce Expansion at its Irish Operations

July 28
12:21 2016

dms-logoMinister for Jobs, Enterprise & Innovation Mary Mitchell O’Connor TD today officially announced the expansion of DMS operations in Ireland, with the opening of their bespoke, modern office in Dublin which will accommodate their growing team. Building on their success to date, DMS plan to hire an additional 50 new staff, in risk, trade execution, verification, settlement, investment management support and governance roles.

This announcement is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.

DMS Governance Ltd (DMS), founded in 2000, is a recognised leader in fund governance and investment management support services. DMS services include (Undertaking for Collective Investment in Transferable Securities) UCITS and (Alternative Investment Fund) AIF Hosting Services, Fund Governance, Foreign Account Tax Compliance Act (FATCA) services, Banking and Custody, Outsourcing, Trust and Corporate Services. DMS has offices in the Cayman Islands, New York, São Paulo, London, Luxembourg, Hong Kong and Ireland.

DMS Ireland is the largest operation outside of Cayman and controls the DMS Internationalisation Strategy. DMS Ireland already employs 50 people at its European operations centre in Dublin, with today’s announcement bringing that total employed to 100 by 2017.

Making the announcement Minister for Jobs, Enterprise and Innovation,Mary Mitchell O’Connor TD said “DMS are 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.’’

I put our continued success down to 3 main factors; firstly DMS have 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 echo DMS’s value. It is to the Irish Funds industries immense credit that this is true, even of our competitors!”

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.”

Lorent Meksi, Manager Director, Efficient Capital Management LLC said, “This innovative investment solution from DMS allows us 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 us and other non- EU Manager’s is the ability to successfully provide regulated onshore investment vehicles to institutional and qualified investors with a recognised global UCITS and AIFMD brand.”

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