At an event last week in Belfast, chief executive of the Bank of Ireland, Brian Goggin, announced plans to establish a specialist hedge fund administration business in Belfast that will create 149 new jobs in the region over the next five years.

"We are very excited about the prospect of creating a sizable presence in Belfast servicing the international offshore hedge fund industry. We believe there is considerable potential for expansion in this market," he added.

The Belfast office will become part of Bank of Ireland Securities Services (BOISS), the fund administration and custody arm of the Bank of Ireland Group.
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