Global ratings agency S&P, whose ratings help drive growth and provide transparency, has opened a new European headquarters in Dublin.

The agency is the world's leading provider of independent credit ratings.

The Irish headquarters will be the hub of its EMEA network, spanning 13 offices.

A mix of employees have relocated from existing international offices along with new hires in Ireland.

These include senior management, analysts, compliance and support staff.

John Berisford is president of S&P Global Ratings: "We are thrilled to be in Ireland.

"This country has a vibrant financial services ecosystem and we look forward to playing our part in developing it further.

"Historically, Ireland has shown it can play a leading role in innovation in capital markets as well as in advancing new financial technology.

"We were attracted by the country's talent pool, connections to the rest of our European network, and its strong track record as an operating environment.

"Our new Dublin office is a key milestone in our journey to expand into new markets and attract talent."

S&P Global Ratings publishes more than 50 global-scale ratings on Irish companies, banks, infrastructure projects, structured finance transactions, and the country's sovereign.

Welcoming the decision to locate in Dublin, Finance Minister Paschal Donohoe said: "S&P Global Ratings is a most welcome addition to Ireland’s growing financial services community.

"This location decision underscores the attractiveness of Ireland for investment in highly-skilled, knowledge intensive areas of activity, particularly the financial services.

"We have put significant investment over the past number of decades into developing our stock of human capital to ensure we have the necessary skills and talent base."