The Minister for Jobs, Enterprise and Innovation, Richard Bruton, launched the Irish Debt Securities Association (IDSA) in Dublin yesterday. The association is designed to represent the interests of corporate administrators, audit firms, legal advisers, listing agents, and other parties involved in the structuring and management of Special Purpose Vehicles (SPVs) in the industry in Ireland.
Ireland has about €500 billion of SPV assets, representing about 22 per cent of all European SPV assets.
Association chairman Turlough Galvin said it would promote and develop Ireland as the premier European location for activities to support the global structured finance, debt securities and specialist securities industries.
Mr Bruton said international financial services formed a key part of the Government’s plans for jobs and growth. He added that a new team in the IDA would target investment and jobs from this sector.
Chief executive of the IDSA Gary Palmer said that Ireland, as an open, transparent and tightly legislated jurisdiction with a foundation of existing expertise, could provide the solutions that were being sought.
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