Supply and demand seem to be playing out favourably for Irish financial services employees. As we noted in January, many Irish salaries fell last year. Now, it transpires that one fund administrator is moving to Ireland precisely because it’s easier to control costs here.

Bloomberg reported last week that HSBC is moving a fund admin unit from New York to Dublin to, “control costs.”

200 jobs are going inNew York and “some roles” will apparently move to Dublin.

Needless to say, HSBC’s enthusiasm for the Irish capital may also have something to do with Ireland’s 12.5% rate of corporation tax – vs. 35% in America. It emerged at the weekend

that Facebook, which is allegedly contemplating doubling the size of its Dublin office, funnelled 15% of its global revenues throughIreland in 2010.