International money transfer and currency exchange service provider OFX will establish its European base in Dublin, creating 15 jobs.
FX, which was founded in 1998, is headquartered in Sydney, Australia. It employs 650 people in eight offices around the world, working with businesses that trade across borders, as well as with consumers who send money abroad.
The service provider also appointed Maeve McMahon as regional general manager in December as it focuses on EU markets. Ms. McMahon previously worked as a client manager for Argos Financial Services and also held positions with Natwest Group and Ulster Bank.
The decision to establish an Irish operation was taken by the OBX Board in 2018. The Irish business will now manage the entire European portfolio following the migration of the European business from the UK entity after the authorization of the Central Bank.
The newly created roles in the Dublin office will be split between compliance, risk, finance, operations and sales functions. Alongside the CEO, the company has already hired a team of senior employees, including the head of risk and compliance and the head of finance and operations.
OFX Global Managing Director Skander Malcolm said the Irish office would be a key part of the growth strategy in the European region.
“OFX aims to help businesses access advantageous exchange rates and easily trade across borders. And we want to help businesses protect themselves and manage risk in their foreign exchange transactions,” he said, adding that this becomes “even more important” in the current period of economic uncertainty.