Some 700 financial services jobs are to be created in Dublin over the next few years as part of a further investment by Deutsche Bank, with the German organisation hoping to expand its influence in Ireland.
The bank is planning to launch its regional hub and centre of excellence at a newly-purchased building in East Point, having garnered support from Irish government organisations for its move.
Hiring will begin in earnest in 2014 but is expected to last for around four years as the company takes advantage of the glut of financial talent in the Irish market.
Deutsche Bank has a long-standing presence in the Irish capital, having had a base there since 1991 - it currently employs more than 300 people across the city.
However, this marks a major step up in its ambitions to play a role in the Irish financial services sector and was met with enthusiasm by politicians.
Jobs minister Richard Bruton said the investment shows that finance is a sustainable and important part of the Irish economy.
"In the past two years, we have seen strong employment growth in this area and major announcements by companies like Northern Trust and Clearstream," he added, describing this move from Deutsche Bank as a vote of confidence in the resurgent Irish economy.
IDA Ireland chief executive Barry O'Leary contributed to the mood of positivity, describing the financial services providers as one of Europe's most dynamic banks.
"Deutsche Bank has successfully built up a strong operation in Ireland over the last 20 years, and these plans to create a new Centre of Excellence in Dublin will confirm Dublin’s position as a significant European financial hub," he concluded.
The Centre of Excellence is to see Deutsche Bank work with graduates from Irish universities to ensure it retains a strong pipeline of talent while based in the nation.
Although Ireland has endured difficult times economically, its low corporation tax has made it something of a centre for European finance.
