75 new jobs for Sligo, Waterford

More than 50 jobs are to be created over the next three years in Sligo while a further 20 will be added in Waterford, it was announced today.

Equinoxe AIS, a provider of administration services to the hedge fund industry, is to expand its Irish operation with the establishment of a new asset servicing operation at the Innovation Centre at the Institute of Technology Sligo (IT Sligo). The expansion is supported by IDA Ireland.

The company provides a range of services to the global hedge fund community, with its current business comprising of primarily hedge funds domiciled in Bermuda, Cayman Islands, BVI and Ireland. The company offers fund structuring, set up, assistance in independent hedge fund creation, hedge fund administration, portfolio accounting and valuation, shareholder servicing, accounting, audit and tax services and directorial and secretarial services.

Equinoxe's existing Irish operation, which is located in Malahide, Co Dublin, is its European headquarters servicing the EMEA markets.

"Our experience of the start-up and development of our Dublin office, and its success to-date, was a major influence on our decision to locate this further investment in Ireland," said Equinoxe chief executive Stephen Castree.

"The country's highly respected reputation and track-record of achievements in global financial services was a major consideration in 2007 when we first selected Ireland. These attributes have proven to be valuable in the development of our business and we are again confident that Ireland and in particular Sligo, will see this expansion successfully perform to our stringent targets and contribute significantly to the further growth of our global business, " he added.

In a separate announcement, it was revealed that 20 jobs are to be created at a pharmaceutical company in Waterford over the next two years.

EirGen Pharma, which develops drugs for use in cancer treatment, said new contracts in Japan, the United States and South Africa, have paved the way for a €3.3 million expansion.

Tánaiste Mary Coughlan said EirGen's expansion would strengthen Ireland's reputation for innovation.

"Their strong focus on providing dedicated research and development facilities, their export focus and the high value technology jobs they provide all combine to give EirGen a strong reputation in the international marketplace," she said.