A new college dedicated to the needs of the financial service industry was opened in Dublin today by the Taoiseach, Mr Ahern.
The International Financial Services Institute (IFSI) is part of the National College of Ireland and will offer courses from certificate to professional level in a number of financial disciplines.
Over 11,000 are now directly employed in Dublin's IFSC which contributes 5 per cent to annual GDP and is worth €3.6 billion a year in salaries and related spending.
Mr Maurice O'Connell, chairman of the IFSI, described the institute as a "critical piece of the IFSC and financial services infrastructure." Speaking today, he said that the companies within the sector, the IDA and policymakers agreed that education, and particularly continuing education, is vital if the growth of the past 10 years is to be sustained.
"Ultimately as financial services become ever more complex, there is a real danger that skills shortages could put Ireland at a significant disadvantage compared to competing centres in Europe and further afield," he said.
The IFSI will be based in the National College of Ireland's campus in the IFSC.