- This primarily consists of the in-house treasury functions of large non-financial services organisations, e.g., Pfizer, Xerox and Securitas, which operate as in-house shared services centres serving multiple locations and functions.
- Based on FSI’s own research into this area the leading firms are often the global hub for their parent’s treasury operation and provide a range of services including
- cash pooling,
- debt raising,
- in-house banking,
- inter-company netting,
- shared services such as payroll and payments.
- While the numbers directly employed in this area can be quite small, the quality of the employment is excellent, and the strategic importance of the work that is done here often strengthens the case for retaining the less skills intensive manufacturing operations that also located in Ireland.
- A further aspect of this sector is the provision of ‘agency’ corporate treasury services by larger institutions. While the number of players has declined in this area in recent years, both AIB and FTI Treasury maintain significant operations.