The new office accommodates the growing European Financial Services business of QUMAS and is headed by Richard Petti. QUMAS is headquartered in Cork, Ireland and also has operations in the U.S.

Speaking at today's opening, Micheál Martin said: "QUMAS is a fantastic success story for Ireland. It is a company that has succeeded in growing over the last ten years on a global scale and is an outstanding example of Ireland's strength and growing reputation in software development. The success of companies like QUMAS demonstrates the ability of Irish companies to deliver high quality products and service on a multi-national scale. QUMAS' success represents the success of many of the critical ingredients for software companies to grow and thrive".

Brian Sweeney, Chairman of QUMAS, added: "The opening of our new London office is an important milestone in our strategy of delivering enterprise-wide compliance solutions to regulated corporations around the world. With clients like Fidelity and the Bank of America already on our list we are in a strong position to grow in the financial services market as it faces the challenges of global regulation."