It was announced that the €2tn mark had been surpassed at the Irish Funds Industry Association’s annual general meeting on 25 may by Fearghal Woods, when he formerly took over as chairperson of the association from Ken Owens.
Prime Minister Kenny said the milestone is testament to the work of the international financial services in Ireland, which he had set a target last year of creating a further 10,000 jobs by 2016.
“The continuing success of the Irish funds industry and the IFSC is a reminder of the value of economic stability in attracting new investment and jobs,” said Kenny.
“Surpassing today’s milestone of €2trn of assets serviced in Ireland again highlights the value of Ireland remaining at the heart of Europe which continues to draw commercial operations and investment into the country.”
Pat Larder, chief executive of the IFIA, also pointed out that in recent months, the assets of funds domiciled in Ireland passed the $1trn mark.
The announcement comes a day after the country backed a treaty designed to strengthen the eurozone through tighter policy controls and will ensure Ireland has access to the European Stability Mechanism, the eurozone’s permanent bail-out fund.
