BNY agrees deal to move into Marlet’s Shipping Office building in Dublin

The New York-headquartered firm has agreed to take four floors of the ultra modern eight-storey Shipping Office on Sir John Rogerson’s Quay.

The deal, which follows reports that tech giant Apple is also seeking space for hundreds of staff in the city, will be seen as a much-needed vote of confidence in the capital’s recently moribund commercial property sector.

BNY already operates an extensive operation out of two offices on either side of the Liffey, as well as in Cork and Wexford. The deal with Marlet Property Group will see it move all of its Dublin staff into the Shipping Office, where it will have space for up to 800 people.

Staff were informed of the move – expected to happen in mid-2025 – at a meeting on Thursday afternoon by the firm’s Ireland country manager Paul Kilcullen.

“BNY has signed a lease for four floors of The Shipping Office on Sir John Rogerson’s Quay in Dublin,” said Mr Kilcullen, who also serves as BNY’s CEO of Funds Services Ireland, in a statement.

“Ireland is a key location for BNY, and our high-performing teams in Dublin will come together in one office in a prime location at the heart of the city’s international financial services centre.”

Mr Kilcullen said that the deal would provide the firm with “a state-of-the-art environment that will further elevate the experience for our clients and enhance our culture, foster collaboration, and drive innovation. We expect to move into our new space around mid-2025.”

Built by developer Pat Crean’s Marlet Property Group on the site of a former shipping company office, the building in total is 177,000 sqm. Last July Marlet finalised a €102m refinancing facility with Cheyne Capital Real Estate after it completed the building.

BNY is 30 years in Ireland since opening its first office in 1994 and last year launched its Global Digital R&D Hub in Dublin to drive innovation in data analytics as a way to identify trends to advise BNY clients globally. 

The announcement of the Dublin office move comes in the same week that the 240-year-old financial services company launched an updated brand, changing from BNY Mellon to become BNY.