Financial services company Citi has opened a new resarch and development centre in Dublin.
The facility was opened this morning by the Taoiseach and will see Citi work with many leading technology companies, such as Microsoft and Cisco.
Citi announced the investment of a further $24 million for the development of an intelligent payments solution, bringing the company's investment in R&D in Ireland to date to $100 million.
The company said the number of employees involved in R&D will now reach 100 by the end of 2010.
Speaking at today's launch, Brian Cowen said: Citi was the first financial services company in Ireland to create a research and development facility. . . . This investment and the high value jobs created here will contribute significantly to Ireland’s goal of becoming a knowledge driven and smart economy.”
Francesco Vannid’Archirafi, CEO of Global Transaction Services and chairman of Citibank Europem, said said the centre would allow the company to create the next wave of financial platforms and solutions for the financial services sector.
Citi has operated in Ireland since 1965 and now employs 2,000 people, mainly in its global transaction services business.