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Extra.ie
27 minutes ago
- Extra.ie
Young multi-millionaire seeks Irish presidential nomination
Gareth Sheridan, a multi-millionaire entrepreneur and pharmaceutical CEO, has announced that he is seeking a nomination to run for President. Posting on his social media pages, Gareth shared his hopes to be the nation's youngest-ever candidate in a Presidential election and he believes that a younger voice is exactly what Ireland needs right now. The Dublin-born businessman revealed that he has stepped aside as CEO of his US-based pharmaceutical company, Nutriband, to fully focus on the election. Gareth with his wife Heidi and daughter Roe. Pic: Instagram @gareth_sheridan He said: 'I believe there's never been a time in our country's history when this has been more important or relevant today, particularly when the average age of an Irish person stands at just under 40. 'Over the weekend, I spoke with all major stakeholders (in Nutriband) and I informed them of my decision to step aside as CEO, so I may focus solely and fully on the upcoming election. 'However, it has been suggested recently that some parties may be looking to block local authority nominations as a means to control and obstruct who may run for President and make sure the only candidates we can consider would come from within party ranks. 'I don't believe this to be in the spirit of our constitution and I expect all parties to respect Article 12.2.2 of our constitution and to allow our duly elected councillors fulfil their obligations under Bunreacht na hÉireann.' Gareth further stated that the Irish people should be the ones electing the President and not 'the people of Leinster House'. The 35-year-old asked for his goals not to be brushed off as 'youthful arrogance' and he has a clear plan and vision for the nation. The Dublin-born businessman revealed that he has stepped aside as CEO of his US-based pharmaceutical company, Nutriband, to fully focus on the election. Pic: Nutriband He added that the values and visions he holds have already been supported by numerous councillors and claimed that they will propose and second his nomination. Gareth continued: 'As a group, we are very confident that we have at least the necessary four local authorities to contest the upcoming election as stipulated in Article 12.2.2 of our constitution. 'Now, hoping to be our youngest-ever candidate, I am fully aware of the issues facing our younger generations. Gareth further stated that the Irish people should be the ones electing the President and not 'the people of Leinster House'. Pic: Nutriband 'They're dispirited, disinherited and disenfranchised. 'Despite being in gainful employment, they're the first generation in modern Ireland to have little or no hope of owning a home, condemned to a life of exorbitant rents or even emigration. 'This is something that I want to highlight, fight for and champion over the course of my campaign.' Gareth is married to a US model called Heidi, and the couple have a two-year-old adopted daughter named Roe. His entrepreneurial journey began in Dublin, where he was named the Bank of Ireland Young Entrepreneur of the Year in 2014 after launching Nutriband Ltd. Nutriband also earned the title of Best New Product that same year. Since then, he has been celebrated as South Dublin's Best Startup and Best Young Entrepreneur, and has served as a Nissan Generation Next Ambassador, identified as one of Ireland's future generational leaders. He is the author of 'From No to NASDAQ', a business memoir charting his path from startup founder to public company CEO. Gareth added: 'It's time that we become an Ireland that gives everyone a fair chance. 'Those for who Ireland is home, those who have made Ireland their home and importantly those who would like to return home, who are often forgotten in this conversation. 'So this time around, I want to offer something different. 'A forward-looking candidate. A candidate that's on your side and focused on the future of Ireland. 'To create an Ireland that we will be proud to hand down to the next generation and they'll be proud to inherit.'
Irish Examiner
6 hours ago
- Irish Examiner
John Whelan: Ireland's financial sector needs a new strategy to meet the Four D challenge
Finance minister Paschal Donohoe believes Ireland's financial services industry needs a new strategy and has launched a consultation paper, 'Ireland for Finance Strategy 2026-2030'. In introducing it, the minister coined a new catchphrase, the Four Ds — deglobalisation, digitalisation, decarbonisation, and demographics. He says his department recognises the Four Ds are reshaping the global economy and resulting in a complex set of challenges for the financial services industry, a key platform of growth in the Irish economy over the past decade. Brexit benefits Brexit supercharged the Irish financial services industry as UK-based corporations shifted their European offices to Dublin to ensure they could continue a free flow of assets and funds across the EU. According to data from EY's financial services Brexit tracker, at the end of 2021, over 400 UK financial services role relocations to Europe were announced, taking the total number of jobs leaving London to maintain access to EU markets to over 7,500 to date. The financial services boost from the Brexit shift from London to Dublin has continued, and the sector now employs 140,000 people in Ireland, 60,000 of them in the IFSC — now ranked the third leading financial centre in Western Europe, after London and Frankfurt, according to the global financial centres index. Financial services The financial services industry is big business for Ireland, with over €4.9 trillion in assets under management. More than 1,000 fund managers from 50-plus countries have assets administered in Ireland, including 17 of the top 20 global asset managers. But the minister is right: The challenges of the Four Ds could derail the sector. The deglobalisation strategy being pursued by the Trump administration in so many areas as they drive to 'make America great again' could be shifted at any time from tariffs on products made outside the US, to a focus on financial services, with a demand on US corporations to bring home service jobs to the US. What gives these teeth is that a significant number of those employed in the Irish financial services sector are in US banks such as Citibank, Bank of America, JPMorgan, and US Bancorp. But many jobs in the sector are created by US tech companies located here, such as Airbnb, eBay, Facebook, Indeed, LinkedIn, Microsoft, PayPal, X, (Twitter) and Google. Fragmented landscape for foreign firms The changed geopolitical environment, fuelled by the Trump administration's protectionist agenda, has fed into other countries taking a similar strategy, resulting in a fragmented landscape for international corporations located in the IFSC. And whereas digitalisation will continue to reshape how financial services businesses operate, the need to keep up to speed in the AI and cybersecurity space will be challenging, requiring trained staff with a fusion of technology and financial skills at a premium. At the heart of decarbonisation and the associated green transition are the commitments of Ireland and the EU on climate and sustainability objectives. These present fresh challenges as the Trump administration pivots towards continuity of fossil fuels. Pivot from green agenda Pivoting away from the green agenda is already underway, particularly with US corporations, leaving many in the financial services sector who have been channelling investment towards projects aimed at meeting these sustainability objectives in an embarrassing bind. Demographic challenges in the EU and, in particular, in Ireland, are also impacting the sector. These range from low female participation to population ageing, and a shrinking working-age population. But perhaps the most intractable challenge is that the need for acceptance of more ethnic diversity in our working population will increasingly be necessary to support employment in all sectors, in particular in the financial services sector. However, the minister is probably aware of these challenges and is more interested in getting some indications of where the opportunities are in financial services. He is asking all stakeholders in the sector to submit their views by September 19 on how Ireland can maintain and grow its position as a leading global hub for international financial services. Top of the list is likely to be homegrown 'unicorns', startups that have reached a valuation of €1bn or more. Some prominent Irish examples include Intercom, Fenergo, TransferMate, Wayflyer, and of course Stripe.
Irish Independent
19 hours ago
- Irish Independent
Multi-millionaire pharma tycoon Gareth Sheridan (35) launches bid for Irish presidency
Businessman, who founded US-based company Nutriband, says younger people need to be represented in upcoming electionSheridan, who is married to a US model and former Mormon, says he wants their adopted daughter 'to inherit an Ireland we can all be proud of' Dublin-born entrepreneur says he has 'significant number of councillors and councils behind me' Multi-millionaire businessman Gareth Sheridan (35 has announced he will run for the Irish presidency in this year's election.
