International fund administrator Aztec Group have announced plans to create 30 jobs after expanding into the Irish market with the opening of a hub in Kilkenny city to serve new and existing clients.
The independent provider of fund and corporate services employs some 1,800 people across offices in Jersey, Guernsey, Luxembourg, the UK and the US. Recruiting for the 30 roles is now underway and expected to be completed in the coming months.
The new positions will be spread across private equity, real assets and private debt focusing predominantly on accounting and administration, but also including roles in the areas of loan administration, banking and payments, corporate services, tax accounting and company secretarial.
As part of its expansion into Ireland, Aztec will be licensed to provide fund administration and depository services, subject to regulatory approval. The project is supported by the Irish government through IDA Ireland.
“Having expanded across Europe and into North America in recent years, I am incredibly proud that Aztec has now added Ireland to our growing international footprint," said Edward Moore, CEO of Aztec.
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“While we may be new to the jurisdiction, our experience built up over more than 20 years serving the European alternative investment industry – coupled with the leadership Kevin will bring in Ireland – means we’re perfectly placed to support both new and existing clients here.
“Our vision is to be a leading global provider of administration services to the alternatives industry – our move into Ireland is a significant step forward in making that vision a reality.”
The announcement follows the appointment of head of Ireland fund services, Kevin Hogan, who will lead the growth and development of Aztec’s presence in Ireland and is also responsible for the continued success of its private debt business.
Prior to joining the Aztec Group, he spent seven years at State Street, latterly as head of product for the alternatives business in EMEA.
“I am delighted to have joined the Aztec team and excited by the challenge of building our presence here in Ireland," Hogan said.
“The regulatory landscape makes it an attractive place to do business for the sector and, with the growth in private markets which is forecast to continue, it is the right time for us to expand into Ireland.
"We also believe Kilkenny is the ideal location for us to attract the talent we need over the coming months and years.”
Commenting on the announcement, Minister for Enterprise, Trade & Employment Simon Coveney said it was great news for Kilkenny and for Ireland's overall offering for foreign direct investment.
Mary Buckley, interim CEO of IDA Ireland, added: "Aztec Group’s decision to expand into Ireland is terrific news for the Kilkenny and the South-East Region’s well-established IFS cluster.
"Total employment in IDA client companies in Ireland now stands at 301,475, which is a 9% increase on our 2021 figures. 242 investments were won in 2022 with 127, including Aztec Group, going to regional locations. I wish the team every success with this investment.”
Aztec administers more than €440bn in assets, 450 funds and 4,500 entities for a range of clients, spanning the major asset classes including private equity, venture capital, private debt, real estate and infrastructure.
Photo: Maria Gagic, project executive and Maeve McConnon, department manager at IDA Ireland; Kevin Hogan, head of Ireland fund services; and group head of private debt, Aztec Group; and Brian McGee, regional manager. (Pic: Nick O’Keeffe)
