IDA Ireland has welcomed the announcement by Citi that Dublin has been chosen as one of a number of European locations for expansion as part of its Brexit response in addition, Bank of America has confirmed that it has chosen Dublin as the preferred location for its principal EU legal entities following the UK’s departure from the EU.

Commenting on Citi’s announcement CEO IDA Ireland, Martin Shanahan said “This announcement is very positive for Dublin and follows a number of recent investment decisions made by some of the world’s leading global financial institutions.  It is another welcome endorsement of Ireland as an international financial services centre.

This announcement is very positive for Dublin and follows a number of recent investment decisions made by some of the world’s leading global financial institutions.  It is another welcome endorsement of Ireland as an international financial services centre. Martin Shanahan, CEO, IDA Ireland

“I am confident that we will see Ireland selected for more Brexit related investments over the coming months, but we cannot be complacent, these investments will not fall into our laps, they will have to be won,” concluded Martin Shanahan.

IDA Ireland today also welcomed Bank of America confirmation that it has chosen Dublin as the preferred location for its principal EU legal entities following the UK’s departure from the EU.

Bank of America celebrates 50 years of operation next year in Ireland and Dublin is the home of more of its employees than any other European city outside of the UK. The decision was confirmed by Brian Moynihan, Chairman and CEO of Bank of America today at a meeting with An Taoiseach Leo Varadkar TD and IDA Ireland CEO Martin Shanahan.

The decision to consolidate its legal entities in Dublin will ensure that the company can continue to serve its customers, both in Ireland and across the EU, after the UK leaves the European Union.