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09/07/2010
Jobs Boost Sees 'Fortune' Favour Shannon
A leading Fortune 500 global financial security company valued at over $100 billion, Genworth Financial Inc, is about to increase its 6,000-strong workforce by creating up to 117 new jobs in Clare over the next three years.
The Minister for Enterprise, Trade and Innovation, Batt O'Keeffe has announced that the top US global financial security firm will create the jobs in the Shannon Free Zone with the support of the Daíl Government through Shannon Development.
The firm previously established operations in the Shannon Free Zone in 1997 and now employs 345 full-time workers with the planned new jobs set to bring the workforce to 462, with growth expected in the operations teams.
Genworth Financial's base in Shannon is a centre of excellence for operations, information technology and finance teams for the company's lifestyle protection business.
The new jobs will be in the operations division of the lifestyle protection business which helps clients to meet repayment obligations on loans, mortgages and other credit products should they be unable to pay due to accident, illness, involuntary unemployment, disability or death.
Genworth Financial is a wholly owned subsidiary of Genworth Financial Inc, a Fortune 500 company based in Virginia, US, with operations in over 25 countries.
Minister O'Keeffe said: "Genworth Financial's intention to increase its workforce in the Shannon Free Zone is a clear indication of the firm's long-term commitment to the area and a signal that our regions continue to win investments from global players.
"The Shannon Free Zone hosts over 100 firms generating €3.5 billion in annual sales - 90% of which are to export markets.
"The business park, with its links to Shannon Airport and multi-sectoral employment base, is a strong revenue generator for the local economy and the Shannon Development team worked hard to secure Genworth Financial's investment against strong competition."
Commenting, the President of Genworth Financial's European operations, Bob Brannock, said: "We are focused on growth and delighted to be expanding operations at our Shannon Free Zone centre of excellence.
"Our highly skilled teams in Shannon have played a vital role in helping families create financial security through this economic cycle.
"As we grow into new geographies and enhance the capabilities we offer to our distributors, we will need to build teams and develop our people so we continue to deliver outstanding levels of service."
Also welcoming the move, the Chief Executive of Shannon Development, Dr Vincent Cunnane, said: "This is a fantastic boost for Shannon.
"Genworth Financial's decision to expand its workforce at their Shannon Free Zone facility is an endorsement of the continued appeal of the Zone as an attractive location for global financial service companies.
"I would like to congratulate Genworth and assure them of Shannon Development's continued support in growing their Shannon operations."
(BMcC/KMcA)
The Minister for Enterprise, Trade and Innovation, Batt O'Keeffe has announced that the top US global financial security firm will create the jobs in the Shannon Free Zone with the support of the Daíl Government through Shannon Development.
The firm previously established operations in the Shannon Free Zone in 1997 and now employs 345 full-time workers with the planned new jobs set to bring the workforce to 462, with growth expected in the operations teams.
Genworth Financial's base in Shannon is a centre of excellence for operations, information technology and finance teams for the company's lifestyle protection business.
The new jobs will be in the operations division of the lifestyle protection business which helps clients to meet repayment obligations on loans, mortgages and other credit products should they be unable to pay due to accident, illness, involuntary unemployment, disability or death.
Genworth Financial is a wholly owned subsidiary of Genworth Financial Inc, a Fortune 500 company based in Virginia, US, with operations in over 25 countries.
Minister O'Keeffe said: "Genworth Financial's intention to increase its workforce in the Shannon Free Zone is a clear indication of the firm's long-term commitment to the area and a signal that our regions continue to win investments from global players.
"The Shannon Free Zone hosts over 100 firms generating €3.5 billion in annual sales - 90% of which are to export markets.
"The business park, with its links to Shannon Airport and multi-sectoral employment base, is a strong revenue generator for the local economy and the Shannon Development team worked hard to secure Genworth Financial's investment against strong competition."
Commenting, the President of Genworth Financial's European operations, Bob Brannock, said: "We are focused on growth and delighted to be expanding operations at our Shannon Free Zone centre of excellence.
"Our highly skilled teams in Shannon have played a vital role in helping families create financial security through this economic cycle.
"As we grow into new geographies and enhance the capabilities we offer to our distributors, we will need to build teams and develop our people so we continue to deliver outstanding levels of service."
Also welcoming the move, the Chief Executive of Shannon Development, Dr Vincent Cunnane, said: "This is a fantastic boost for Shannon.
"Genworth Financial's decision to expand its workforce at their Shannon Free Zone facility is an endorsement of the continued appeal of the Zone as an attractive location for global financial service companies.
"I would like to congratulate Genworth and assure them of Shannon Development's continued support in growing their Shannon operations."
(BMcC/KMcA)
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