Deutsche Bank establishes Dublin data lab

The data lab, known as The Hive, will be a global centre of excellence for the bank, which is looking to use its vast troves of financial data to offer more tailored services to consumers.

Kim Hammonds, group COO, says: “This data lab will generate insights that will enable us to understand and serve our clients better. It will also enhance our ability to comply with regulatory requirements, further strengthen controls and reduce costs.”

In 2015 the German bank announced plans to cut more than 30,000 jobs over two years as part of a drastic restructuring plan designed to save €3.8bn. Many of these job losses were sustained in back-office and IT roles as the bank looked to reorganise its IT infrastructure and cut its use of legacy or duplicate technology.

Hammond says that the firm will further tap in to Dublin’s local tech talent pool to create 125 new positions to support its global markets and corporate and investment banking divisions.

Deutsche Bank has had a presence in Ireland since 1991 and today employs over 650 people in offices in Eastpoint Business Park.