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Market Insights 2019 | Ireland

28/08/19

Commerce & Industry

The market in Dublin has been one of varied fortunes over thepast year. Brexit has led to an influx of highly qualified, quality candidates and we have also seen a number of high profile UK businesses setting up their European headquarters here. On the other side of the coin, the SME landscape has shown caution and an understandable reluctance to hire senior and board level staff, due to the ongoing uncertainty.

Fund Services

Ireland retains its position as a dominant European Funds domicile. By December 2018, continued growth resulted in assets of €2.42 trillion under the management of Irish funds. Irish funds are distributed across more than 80 countries, and there are over 450 fund promoters across Asia, Europe, the USA, the Middle East, Africa and South America that have established funds in Ireland. We have seen significant annual asset value growth every year since 2008, and this trend looks certain to continue.

IMI & Banking

2018 was a strong year for growth across financial services organisations. Brexit substantially impacted the Irish market, with large companies planning to relocate to Dublin, creating new roles at all levels. We are increasingly seeing these organisations looking for subject matter experts due to increased statutory requirements. This led to early-stage recruitment which we expect to continue into 2019.

Public Practice & Taxation

2018 was another buoyant year in the accountancy practice arena, with practices of all sizes growing and creating opportunities across the board. We have seen a marked expansion across audit, taxation, consulting, and corporate finance departments throughout the year, from the Big 4 to small and medium sized practices. The focus is now on talent quality, with companies learning from knee-jerk, rushed hiring mistakes of the past and willing to wait for the right candidate.

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