Bruton to remain president of IFSC Ireland until 2014

Former taoiseach John Bruton has had his mandate as president of IFSC Ireland extended by another two years until the end of 2014.

Mr Bruton took up the role in September 2010 and has in effect acted as a roving ambassador for the International Financial Services Centre, travelling abroad to promote the centre to foreign investors, often in association with IDA Ireland.

This year his trips have included visits to the US, Frankfurt and Brussels.

In late January Mr Bruton will lead a delegation to Zurich and Geneva for seminars and bilateral meetings with groups there.

Visits to New York, Boston, Luxembourg and Edinburgh are also planned for 2013.

In November, Mr Bruton headed a delegation to New York in association with Green IFSC and the Irish Funds Industry Association (IFIA).

The purpose was to engage with compliance and legal professionals in financial firms and to inform them how EU regulatory developments might affect mutual funds established here.

Mr Bruton’s role as IFSC tsar is seen as crucial for promoting the financial centre as a place of investment to overseas groups.

Previous roles

Mr Bruton’s previous roles as taoiseach and as the EU ambassador to the US make him a credible advocate for the IFSC.

Established in 2010, IFSC Ireland is an independent body comprising trade, industry and professional organisations.

It was founded by the Irish Funds Industry Association; the Institute of Bankers; the Federation of International Banks in Ireland; the Irish Association of Investment Managers; Financial Services Ireland; the Dublin International Insurance and Management Association; and the IFIA.

The IFSC comprises more than 500 companies in banking, asset management, insurance and funds listing.

It provides direct employment for 32,700 people and accounts for 10 per cent of multinational employment in Ireland.