BNY Mellon to establish Global AI R&D Hub in Dublin

By Gloria Methri

BNY Mellon has established a new Digital R&D Hub in Dublin to drive innovation in the areas of artificial intelligence (AI), machine learning, and data analytics for the bank’s clients globally.

The development includes an initial €8 million investment, with support from IDA Ireland, which will strengthen BNY Mellon’s role in developing AI technologies and expand on existing technology capabilities located in Ireland.

The investment will help in more than doubling the digital team in Dublin and the initial creation of 30 specialist jobs by the end of 2025.

“Having a leading-edge firm such as BNY Mellon choose Dublin for its Global Digital R&D Hub is a real vote of confidence in Ireland and our talented workforce,” said Simon Coveney, Ireland’s Minister for Enterprise, Trade, and Employment. “The €8m investment will allow for exciting research in AI technologies and data analytics to support their clients’ needs.”

Paul Kilcullen, BNY Mellon CEO of Funds Services Ireland and Ireland Country Manager said, “Delivering innovative solutions for clients has been at the heart of BNY Mellon’s long and proud history in Ireland for almost three decades. This investment reinforces BNY Mellon Ireland’s position at the leading edge of financial services research and development and helps cement Ireland’s position at the forefront in driving innovation in the financial services sector globally.”

“Today’s announcement of a new Digital R&D Hub in Dublin is a great sign of commitment by BNY Mellon to their Irish operation,” said Michael Lohan, CEO of IDA Ireland. The decision to create 30 specialist digital roles here is a vote of confidence in the talent and skillset that they have found in Ireland on their journey so far.”

BNY Mellon employees in Dublin, Cork, and Wexford offices work to deliver a broad range of services to traditional and alternative asset managers, banks, pension funds, insurance companies, and corporations.

The company is seeking to recruit a range of AI and technology specialists in Ireland, including experienced data scientists, and product and design thinking specialists. Based in Ireland, the team will help deliver on the bank’s European and global R&D ambitions.