Cork’s Rise in Financial Services

By David Bennett, Chair of the Cork Financial Services Forum and Partner, EY

It is a privilege to step into the role of Chair of the Cork Chamber, Cork Financial Services Forum. I look forward to supporting the Chamber and the broader business community in promoting Cork as a key player in Ireland’s financial services landscape.

When I relocated from Dublin to establish EY’s Financial Services office in Cork, it was immediately clear that the city already had the foundation of a strong financial services hub. But it was also clear that Cork had not yet received the recognition it deserved; a well-kept secret that is now ready to be shared.

Cork is  key to the financial services ecosystem in Ireland, specifically as a funds centre. An outlet for Dublin, Cork is a fantastic location for both market entrants looking to locate in Ireland with access to talent and also to existing players looking to expand operations beyond Dublin with a focus on headcount expansion and retention.

The depth and breadth of talent within the region has led to large global administrators supporting their wider books of non-domiciled clients, the growth of centres of excellence within the Big 4 and I have seen first hand companies now looking at Cork as a destination given that syntax between existing industry participants, the support from both the IDA and Enterprise Ireland and of course the two leading Universities being UCC and MTU ensuring the talent pipeline will continue.

The city’s financial services roots were planted in the late 1990s and early 2000s, with major players like Citco and BNY establishing a presence. That momentum enabled the growth of firms like Apex Global Solutions and Alter Domus, while Clearstream has become a standout pillar of the sector. The professional services ecosystem soon followed.

Six years ago, I set up EY’s Financial Services practice here with just four people. By next year, we’ll surpass 100 team members and expand into larger premises, this is a reflection of both the demand and the strong local talent pool, supported by two world-class universities.

Our recent Forum meetings with Minister of State for Financial Services, Robert Troy TD, and his predecessor, Neale Richmond, reaffirmed Cork’s critical and growing role in the national strategy for financial services. With the ongoing support of the IDA, Enterprise Ireland, and the collaborative energy of the Forum’s members, I am confident Cork’s trajectory will continue upward. My goal as Chair is simple: to further elevate Cork’s profile as a clear and compelling choice for global firms seeking a European financial services hub, building on the strong foundation already in place and driving even greater awareness, collaboration and growth.