Fidelity Investments will open a research and development facility in Galway, Ireland manned by 49 professionals who will collaborate with a dozen professors at local universities, the Boston Globe reports. They will join the 300 people who already work in Galway and Dublin in fund administration.

“The quality of the Irish work force, the success of our existing Irish operations and the world-class research carried out in the Irish universities were key factors in our decision to expand in Ireland,” said Paul Murtagh, managing director of the Fidelity technology group in Ireland.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.