Banking

Big Tech layoffs to spur ‘flood’ of Irish start-ups, JP Morgan boss says

Wall Street giant is scaling up a commercial banking unit in Ireland focused on high-growth Irish start-ups

Adrian Mullett, senior banker: educating Irish companies that JP Morgan is now offering banking services to high-growth firms. Picture: Fergal Philips

Big Tech layoffs will spur a “flood” of founders to set up companies in Ireland in the coming years, according to a senior commercial banker at JP Morgan Chase.

Andrew Kresse, head of corporate client banking international at the Wall Street giant, told the Business Post that the wave of job cuts imposed by companies like Meta, Google and Amazon was a “gift” when it came to encouraging “want-to-be founders” to set up their own ...