Debt servicing firm Mars Capital Finance Ireland is to create up to 100 new financial services jobs at its operation in Dublin.
The roles will cover a wide range of financial services positions, including technology, governance and contact centre managers to service the residential consumer mortgages that it manages on behalf of its clients in Ireland.
The group also said a number of recent “business wins” coupled with the growth of its existing clients had seen its portfolio increase to more than €9 billion worth of assets in the Irish market.
The company has previously managed portfolios of distressed loans offloaded by Bank of Ireland and AIB to overseas investment funds.
Mars Capital also confirmed its parent Arrow Global was planning “significant investment” in Ireland across a range of sectors, including commercial lending and property.
Mars Capital, which was established in 2015, provides credit servicing for a range of Irish banks and financial institutions with a focus on performing, re-performing and non-performing residential mortgage loans and loans to small and medium-sized enterprises (SMEs).
The group’s team has grown from 60 in 2020 to 130 currently. It was purchased in 2017 by Arrow, an asset management group specialising in credit and property, that employs 2,300 people across five countries. To date, it has deployed more than €140 million into Ireland.
Mars Capital chief executive Colin Maher said the group was “deeply committed” to Ireland, and that his team in Dublin can support customers concerned about – or experiencing difficulties with – making their mortgage repayments.
“The backing of Arrow gives us great confidence in the years ahead and we look forward to growing our team to match the opportunities out there.”
Mark Gollin, managing director and global head of platforms at Arrow, added: “Growing the Mars team will enable continued investment into Ireland and capitalise on significant market opportunities. We are working to bring new services and innovative lending options to the market for Irish businesses. Private credit has a significant role to play and there is still a strong demand from businesses looking to grow their businesses.”
