IQ-EQ, an international investor services group, is to create 45 jobs in Co. Clare over the next five years. The Luxembourg-headquartered business, which also has offices in Dublin and Shannon, is also planning to launch a dedicated funds business in Ireland.

IQ-EQ provides compliance, administration, asset and advisory services to alternative funds, global companies, and private and institutional investors globally. The IDA-backed business has been active in Ireland for more than 30 years and employs 135 people in its Northern Ireland office.

The new funds business in Ireland will see IQ-EQ transfer key personnel from its UK and Ireland team, including Belfast-based Eoghan Harney, who will assume the role of director and head of fund accounting.

Gary Palmer, former chief executive of the Irish Funds Industry Association, will join the Irish operation as chairman and non-executive Director.  A new head of transfer agency is also set to join IQ-EQ’s Irish operation in March 2021.

The 45 new jobs will be based in IQ-EQ’s Shannon facility and include roles in fund accounting, transfer agency and support functions.

In Association with

Joanne McEnteggart, IQ-EQ managing director for Ireland, said that the establishment of a funds business in Ireland was the next logical step for the company. “Many of our clients and intermediaries [are] looking to us to set up a funds operation in what is recognised as a key funds domicile,” she added.

IQ-EQ employs more than 3,400 around the world and works with six of the top 10 global private equity firms.

Zendfast Expanding

Separately, Dublin courier company Zendfast has announced plans to create 40 new jobs as it pursues expansion.

Launched in 2017, Zendfast describes itself as an ‘on-demand, Uber-style’ courier company, offering a variety of courier services on a crowdsourced courier model. It has a team of 100 drivers and 100 subcontractors, and has operations in Ireland, Mexico, Nigeria and Singapore.

Zendfast’s founding team includes CEO Declan Murray, former director of Irish Express Cargo, and Geoff Boyle, co-founder of online insurer 123.ie. UCD Smurfit School professor Brian Fynes and former Precision Software director Robert Campbell are also founders. The business is owned by Murray.

Zendfast said that demand for its courier services has more than doubled in the last 12 months, particularly from businesses trying to manage remote staff through the pandemic.

“We have seen many businesses who have used our services or any courier services for the first time doing a pivot from the ‘normal’ target market due to Covid,” Murray explained. “It is great to see such innovation in these times, and we feel fortunate to be part of their supply chain and to also be in a position to expand our business."