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Page 1: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea
Page 2: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

2513 AL_Ireland US Council Gala Dinner New York_Journal_8.5x11_FA.indd 1 23/10/2019 17:25

Page 3: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

Titanic Belfast

REDISCOVER WHAT MATTERSWhen the time is right. Come home to the Titanic city, where you’ll find a culture-packed hub of history, fine food, spectacular scenery, and even the story of the Ship of Dreams.

Come home to the thrilling notes of traditional music, where laughter rises to the rafters in legendary pubs, to the chatter of family and feasts shared with friends. Here, against a backdrop of 100,000 welcomes, memories are prompted, acquaintances rekindle, and promises made to stay connected.

They say good things come to those who wait.

Find your way home at

Page 4: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

Michael J. GibbonsChairmanIreland-U.S. CouncilFoundation

James S. NormilePartnerKattan Muchin RosenmanLLP

Andrea T. MillsDirectorFiscal Management Associates, LLC

Cillian Ó BrádaighExecutive DirectorMorgan Stanley

VicePresidents

PresidentTom HigginsExecutive Vice PresidentFiServ

National TreasurerMartin CottinghamPrincipalAvison Young

Michael BrewsterMD - InvestmentsBrewster Financial StrategiesGroup • Wells Fargo Advisors (USA) LLC

Executive DirectorDavid O’Sullivan

National Secretary James M. Adrian PartnerAdrian & Associates, LLC

Bill ByrneDirector Global Sales & V.P. North AmericaAer Lingus

Kieran Claffey

Michael ClarkPresidentSurmont, LLC.

Elizabeth CrabillChief Executive OfficerCIE Tours International

Officers

THE COUNCIL’S U.S. BOARD OF DIRECTORS

Gerald C. CrottyPresidentWeichert Enterprise, LLC

William FalveyDirector Diageo Beer Company USA

Mary HanlonPrincipalHanlon Development

Patrick J. DonaghyChairmanFavour Royal, Inc.

Mark FinlayPresidentULV Americas, Inc. Peter J. Hooper

John J. DoolanVice PresidentHeineken USA

John FitzpatrickChief ExecutiveFitzpatrick Hotel Group

James J. HoulihanPartnerHoulihan-Parnes Realtors

Eddie DowlingChief ExecutiveThe Padded Wagon Donard Gaynor

Carmel KeaneSenior Director-Global EngineeringPfizer, Inc.

David EvansManaging Director - North AmericaCanyon CTS

Thomas J. GoodwinPartnerMcCarter & English, LLP

John J. KellyManaging PartnerHanover Stone Partners

Directors

John J. ReillyPartnerSquire Patton Boggs(U.S.)

4

Barbara KosterDirectorDime Savings Bank

Page 5: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

Michael J. GibbonsChairmanIreland-U.S. CouncilFoundation

James S. NormilePartnerKattan Muchin RosenmanLLP

Andrea T. MillsDirectorFiscal Management Associates, LLC

Cillian Ó BrádaighExecutive DirectorMorgan Stanley

VicePresidents

PresidentTom HigginsExecutive Vice PresidentFiServ

National TreasurerMartin CottinghamPrincipalAvison Young

Michael BrewsterMD - InvestmentsBrewster Financial StrategiesGroup • Wells Fargo Advisors (USA) LLC

Executive DirectorDavid O’Sullivan

National Secretary James M. Adrian PartnerAdrian & Associates, LLC

Bill ByrneDirector Global Sales & V.P. North AmericaAer Lingus

Kieran Claffey

Michael ClarkPresidentSurmont, LLC.

Elizabeth CrabillChief Executive OfficerCIE Tours International

Officers

THE COUNCIL’S U.S. BOARD OF DIRECTORS

Gerald C. CrottyPresidentWeichert Enterprise, LLC

William FalveyDirector Diageo Beer Company USA

Mary HanlonPrincipalHanlon Development

Patrick J. DonaghyChairmanFavour Royal, Inc.

Mark FinlayPresidentULV Americas, Inc. Peter J. Hooper

John J. DoolanVice PresidentHeineken USA

John FitzpatrickChief ExecutiveFitzpatrick Hotel Group

James J. HoulihanPartnerHoulihan-Parnes Realtors

Eddie DowlingChief ExecutiveThe Padded Wagon Donard Gaynor

Carmel KeaneSenior Director-Global EngineeringPfizer, Inc.

David EvansManaging Director - North AmericaCanyon CTS

Thomas J. GoodwinPartnerMcCarter & English, LLP

John J. KellyManaging PartnerHanover Stone Partners

Directors

John J. ReillyPartnerSquire Patton Boggs(U.S.)

5

Page 6: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

MacDara Lynch

Gerard P. McNamaraGlobal Managing DirectorInformation Officers PracticeKorn Ferry

John P. NallenChief Operating OfficerFox Corporation

Carl ShanahanPresidentShamrock Building Services

Brian W. StackPresident-EmeritusThe Ireland-U.S. Council

Dennis D. SwansonPresident-EmeritusThe Ireland-U.S. Council

Maurice WolridgeChairmanAlimentary Health, Inc.

Martin MurphyPartnerThe Repton Group, LLP

Maura NolanFounder & PresidentIrish Links Tours & Travel

THE COUNCIL’S U.S. BOARD OF DIRECTORS

www.irelanduscouncil.com • www.facebook.com/IrelandUSCouncil

6

CONTACT THE IRELAND-U.S. COUNCIL TEAM

Executive Director - New York David O’[email protected] or [email protected]: (212) 867 6268 Cell: (212) 470 8965

Executive Director - Dublin Roddy [email protected] or [email protected]: +(353) 1 260 3891 Tel: +(353) 86 837 1425

Program Director - New York Sophie [email protected]: (212) 867 6268

Program Director - Dublin Jenny [email protected] Tel: +(353) 1 260 3891

Communications Director - DublinMichael [email protected]: +(353) 87 241 8360

Director of Membership & RevenuesRuth CrokeCroke Communications, New [email protected] Tel: (347) 808 9781

Scholarship Programs Director: Annalise StackRoan Skye [email protected](914) 282 5619

Art DirectorKevin FeganTaste [email protected](516) 382 0728

Technology DirectorJoe [email protected](201) 456 1227

New York OfficeThe Ireland-U.S. Council

P.O. Box 4476New York, NY 10170-0247

Tel: 212.867.6268 • Fax: 212.867.6834

Dublin OfficeThe Ireland-U.S. Council

Apartment 8, Malton, 31/33 Merrion Road, Ballsbridge, Dublin 4, DO4 CC83, IRELAND

Tel: (353.01) 260.3891 • Fax: (353.01) 667.4041

Page 7: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

Holfeld Property are experienced, commercially minded

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Here in Ireland we know what’s really important in life. Living life to the full and making the most of every second of the day are central to our culture and traditions.

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Ireland...It’s More than Just Business.You’ll Be Glad You Came!

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HolfeldProperty_FullPageAdvert.indd 1 28/09/2020 13:01

Page 8: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

Dr. Michael SomersChairmanGoodbody

Clive BellowsCountry Head Northern Trust Ireland

Roddy FeelyExecutive DirectorIreland-U.S. Council Ireland Chapter

Frank HayesDirector of Corporate AffairsKerry Group plc

Siobhan Byrne-LearatFounder & CEOAdams & Butler

Marina GiblinDirector - Private WealthManagementKey Capital

Richard M. HenryProducer BrokerLex Risk SolutionsJatco Insurance Brokers

Michael CannonDirectorCannon Kirk Homes

Brian J. GogginPresident-EmeritusIreland ChapterIreland-U.S. Council

Colin HuntChief ExecutiveAIB Group

Derek CollinsSenior DirectorBank of Ireland Corporate Banking

Michael GreeneOf CounselA & L Goodbody

Phil KaneCountry Manager IrelandEaton Corporation

ChapterPresident

THE COUNCIL’S IRELAND CHAPTER

James O. McNallyPartnerPwC

Eoghan O’Mara WalshChief ExecutiveIrish Tourist IndustryConfederation

Aidan SmythManaging DirectorLabplan Ltd.

Martiena MiltonDirectorH. R. Holfeld Group

Joe O’NeillChief Executive Belfast Harbour Commisioners

Siobhán TalbotGroup Managing DirectorGlanbia plc

Danny McCoyChief ExecutiveIBEC

Mark NolanManaging DirectorDromoland Castle Hotel

Martin ShanahanChief ExecutiveIDA Ireland

Yvonne MuldoonDirector of SalesAer Lingus

Aidan PrendergastChief ExecutiveCardinal Consulting Ltd.

Joseph P.J. MurrayFounding DirectorIreland-U.S. Council Ireland Chapter

Andy RuaneChief ExecutiveIrish Channel America

Phillip ScruggsPresident & ChiefCommercial OfficerAerCap

Brian KellyManaging DirectorDalradian Gold

Martina CooganSales Manager - IrelandUnited Airlines

Dr. Catherine HallahanChief ExecutivePlatform Medicals

Brendan MurphySenior Managing Directorand Vice ChairmanTeneo Ireland

Chapter Board Members

8

Page 9: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

Dr. Michael SomersChairmanGoodbody

Clive BellowsCountry Head Northern Trust Ireland

Roddy FeelyExecutive DirectorIreland-U.S. Council Ireland Chapter

Frank HayesDirector of Corporate AffairsKerry Group plc

Siobhan Byrne-LearatFounder & CEOAdams & Butler

Marina GiblinDirector - Private WealthManagementKey Capital

Richard M. HenryProducer BrokerLex Risk SolutionsJatco Insurance Brokers

Michael CannonDirectorCannon Kirk Homes

Brian J. GogginPresident-EmeritusIreland ChapterIreland-U.S. Council

Colin HuntChief ExecutiveAIB Group

Derek CollinsSenior DirectorBank of Ireland Corporate Banking

Michael GreeneOf CounselA & L Goodbody

Phil KaneCountry Manager IrelandEaton Corporation

ChapterPresident

THE COUNCIL’S IRELAND CHAPTER

James O. McNallyPartnerPwC

Eoghan O’Mara WalshChief ExecutiveIrish Tourist IndustryConfederation

Aidan SmythManaging DirectorLabplan Ltd.

Martiena MiltonDirectorH. R. Holfeld Group

Joe O’NeillChief Executive Belfast Harbour Commisioners

Siobhán TalbotGroup Managing DirectorGlanbia plc

Danny McCoyChief ExecutiveIBEC

Mark NolanManaging DirectorDromoland Castle Hotel

Martin ShanahanChief ExecutiveIDA Ireland

Yvonne MuldoonDirector of SalesAer Lingus

Aidan PrendergastChief ExecutiveCardinal Consulting Ltd.

Joseph P.J. MurrayFounding DirectorIreland-U.S. Council Ireland Chapter

Andy RuaneChief ExecutiveIrish Channel America

Phillip ScruggsPresident & ChiefCommercial OfficerAerCap

Brian KellyManaging DirectorDalradian Gold

Martina CooganSales Manager - IrelandUnited Airlines

Dr. Catherine HallahanChief ExecutivePlatform Medicals

Brendan MurphySenior Managing Directorand Vice ChairmanTeneo Ireland

Chapter Board Members

9

Page 10: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

With positive outcomes for 3.1 million people and that's just the start

Page 11: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

Embracing together the opportunity to explore entrepreneurialism, smart talent, regeneration and tourism as pillars to future economic development

Gateway to Northern Ireland for trade, tourism and economic growth.

www.belfast-harbour.co.uk

Page 12: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

President’s rePort

12

During this extraordinary year of 2020 we have witnessed distressing

events that have upended the lives of countless millions of people not just in America and in Ireland, but the world over.

Since the last Annual Report of our Ireland-U.S. Council in 2019, we have staged only three events. Because of the public health emergency caused by Covid-19 pandemic, all events after our

2020 Winter Meeting in Florida on our 2020 Calendar were canceled. For the first time in our history, our oldest and cher-ished events – the Annual Meeting of Members and our 58th Annual Dinner, always held on the same date, fell victim to this extraordinary and dangerous virus.

We were forced to cancel the following events:

• Our March 2020 St. Patrick’s Lunch at The Metropolitan Club in New York City;

• The 2020 Spring Corporate Lunch scheduled for April 24 in Dublin;

• The 2020 Student Scholarships Award Lunch slated for June 11 New York and with it the entire Student Work Experience Scholarships program planned for this year;

• The 2020 MidSummer Gala Dinner in Dublin Castle on June 24;

• The Monday July 27 Golf Day at Rye Golf Club in Rye, New York;

• The Friday, September 11, 2020 Golf Day in Ireland at Dún Laoghaire Golf Club in Enniskerry, County Wicklow;

• Our 58th Annual Dinner at The Metropolitan Club in New York slated for Thursday, November 12, 2020;

• Our December Member-Guest Reception in Dublin, Ireland that was to have happened on Thursday, December 17, 2020.

As the days had morphed into weeks and months, the outline became gradually clearer of the severity of the impact that this virus emergency was going to have and will continue to have into the near future on our Ireland-U.S. Council operations and revenues in the United States and in Ireland.

In the past few months, we have been working on a strategy to replace our in-person event hosting with a program of video messages and online communications sponsorships to maintain connectivity on our platform. This series of video messaging was launched in late-May and has featured

4 A video message introducing the program by Council Executive Director David O’Sullivan;

4 A video update on Council programming by Sophie Colgan, Program Director of the Council in New York;

4 A status update video recording by Annalise Stack on our Ireland-U.S. Council 2020 Student Work Experience Program;

4 A video message from Elizabeth Crabill, Chief Executive of CIE Tours International – the largest tour operator from the U.S. into Ireland - and a long-time Board Member and sponsor of the Ireland-U.S. Council.

These video messages were distributed to all members via email and posted on our website and distributed via our Ireland-U.S. Council YouTube Channel and across our social media platforms.

Other video messages being edited or planned at this time, among others, include: 4 A video report on our Ireland-U.S. Council 2020 Award

for Outstanding Portraiture which we conduct in conjunction with the Irish Arts Review;

4 A video message from Tourism Ireland’s Alison Metcalfe, discussing the latest developments on Ireland’s travel and tourism industry, especially viewed from the U.S. perspective;

4 Video supporting Council-member company Dublin Airport Authority in its revised planning application to improve Dublin Airport’s operations and the addition of a new runway at its main hub facility in Dublin;

Of course, the Ireland-U.S. Council was not alone in having our regular schedule of activities disrupted. As we all know, millions of businesses were forced to shutter, putting livelihoods at risk and interrupting vital family incomes causing great hardship. At this writing, very positive vaccine news portends an end to the misery - if not very soon, then at least in a foreseeable future, which we all eagerly anticipate.

Tom HigginsPresident, Ireland-U.S. Council & Executive Vice-President, Fiserv Inc.

Long lines for unemployment assistance in Dublin

Page 13: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

President’s rePort

13

The Pandemic’s Economic ImpactThe economic impact of the virus has been enormous and epic. Economic output measured in terms of GDP crashed at rates never witnessed before.

The human scale of the disaster can be seen clearly, for example, in the sharp upward spike in unemployment numbers in the United States and in Ireland for this year of 2020:

The Political ClimateGreek philosophy summed it up neatly: “Time is the element of change”. On both sides of the Atlantic, change has been the order of the day. A General Election in Ireland took place in February 2020 and resulted in Government changes involving an unprecedented centrist coalition.

The election was a three-way race, with the three largest parties each winning a share of the vote between 20% and 25%. Fianna Fáil finished with 38 seats. Sinn Féin made significant gains; it received the most first-preference votes, and won 37 seats, the party’s best result since it took its current form in 1970. Fine Gael, the governing party led by Varadkar, came third both in seats (35) and in first-preference votes. The result is a historic break from the two-party system, as it was the first time in almost a century that neither Fianna Fáil nor Fine Gael won the most votes. Furthermore, the combined vote share of the two traditional main parties fell to a historic low. The outgoing Taoiseach, Leo Varadkar formally resigned as Prime Minister.

Negotiations to form a new government were slow, continuing through to June. Finally, Fianna Fáil, Fine Gael and the Green Party voted to enter government on an agreed platform generally considered to be moderate in nature. Fianna Fáil’s Micheál Martin was appointed as Taoiseach and formed a new government. The parties agreed that in December 2022, Varadkar would resume his service as Taoiseach.

So far, this novel governing arrangement seems to be working out well. A key issue from the viewpoint of business and economic growth, had been to exclude the hard-left policies of Sinn Féin from influencing Ireland’s economic management strategy, especially in the nation’s super-important corporation tax policy.

Most important from the perspective of business relations is the political stability and continuity of economic policy that accompanies any change in Government in Ireland following an election, such as the 2020 General Election. Governments in Dublin might change but the broad sweep of economic policy remains. There is no change in the pro-private enterprise bias in policy formulation or likely legislation.

All Governments in Ireland throughout many decades have remained steadfast in a fundamental commitment to economic growth through private sector investment, productivity and output. Government spending is always a component of strategy. However, the cornerstone is always characterized by that underlying belief that Government does not drive wealth creation. This sounds like a simple formula and it is. Nonetheless, look around the world and be amazed at the number of countries where leadership seems unwilling or incapable to grasp that simple tenet.

Brexit is HappeningBrexit increasingly seems to look like a wound that will not heal. This contentious issue portends the biggest problem for the island of Ireland. If Britain crashes out of the European Union, there is a real fear that any reimposition of physical border controls in Ireland would spark a resumption of the political violence that the Good Friday Agreement so artfully defused.

British Pound vs. Euro over 5 years1.4

2016 2017 2018 2019 2020

1.3

1.2

1.1

1.0

United States weekly initial unemployment claims in 20208M

February March April May June July

6M

4M

2M

0

6.87M

1.31M

282K

Source: U.S. Department of Labor

Joblessness spikes in Ireland for 2020

7.5

8.0

Aug.Jul.Jun.May.Apr.Mar.Feb.Jan. Sep. Oct.

7.0

6.5

6.0

5.5

5.0

4.0

4.5

Source: Central Statistics Office Ireland

4.9

7.3

4.6

British Pound vs. Euro over 5 years1.4

2016 2017 2018 2019 2020

1.3

1.2

1.1

1.0

United States weekly initial unemployment claims in 20208M

February March April May June July

6M

4M

2M

0

6.87M

1.31M

282K

Source: U.S. Department of Labor

Joblessness spikes in Ireland for 2020

7.5

8.0

Aug.Jul.Jun.May.Apr.Mar.Feb.Jan. Sep. Oct.

7.0

6.5

6.0

5.5

5.0

4.0

4.5

Source: Central Statistics Office Ireland

4.9

7.3

4.6

Page 14: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

It now looks almost certain that we will have a Brexit happening without a comprehensive trade deal worked out in advance. This will have many economic consequences – none of them good in our view. Ireland’s companies selling into Britain will face tariff, quota or red-tape complications that will increase the prices for their goods.

Of course, the price effects are worsened by the falling exchange rate for British sterling. Since the referendum vote in June, 2016, when the British people voted to leave the EU ending Britain’s 43-year membership, the value of the pound sterling has fallen by 35% against the euro.

The physical land border issue is the thorny nub of the problem. The London Government will have some serious thinking to do to keep the Ulster Unionists on-side as they ponder their Brexit options that affect Ireland. Complicating their available choices, both the European Union and the United States have made it clear that fresh trade agreements with the United Kingdom post-Brexit will be impossible if physical border controls are re-imposed on the island of Ireland, imperiling the Good FridayAgreement.

Of course, the politics in Northern Ireland have always been problematic. A best-of-both-worlds solution has been dismissed by the Unionist party – a deal where Northern Ireland on trade issues is treated as part of the European Union while maintaining its constitutional link and rule from London. Most business and trade union groups in Northern Ireland support this neat and favorable solution.

The U.S. Election ResultThe November 2020 U.S. Election confirmed that America continues to be a divided nation when it comes to support for political parties. The durable and resilient two-party system

has displayed this duality since the foundation of the American republic 244 years ago. The first contested General Election in America in 1796 was a bitter affair resulting in John Adams being elected over Thomas Jefferson by a narrow margin.

And, so it was with the most recent election – President-elect Biden edging a nose in front of incumbent President Trump by a tiny percentage in a handful of battleground states out of a total of some 156 million citizens casting their votes.

The incoming Biden Administration is likely to augur good news for Ireland-U.S. economic and business relations for several reasons. Joe Biden is proud of his Irish heritage and is not shy about proclaiming it publicly. Among the first half-dozen telephone calls to world leaders was a cordial chat with Ireland’s Taoiseach Micheál Martin. As Brexit looms, President-elect Biden has let it be known that no fresh trade deal with the United Kingdom can be successfully concluded if cross-border trade or travel in Ireland is in any way compromised as part of the Brexit process by the re-introduction of physical border controls or checkpoints on the island of Ireland.

In addition, any change in American corporation tax law by the new Biden Administration is likely to benefit Ireland. Federal tax burdens on companies will probably increase, not decrease. This will sharply highlight the continuing attractiveness of the Emerald Isle’s decades-long commitment to a low-tax strategy for business that benefits American corporations.

Despite the economic challenges presented by the pandemic, American inward investment flows into Ireland continued to be strong. Interestingly also, investment by Irish companies in America also remained buoyant.

Today in Ireland, 750 American companies have invested $450 billion in operations in Ireland. These companies employ 7% of Ireland’s total workforce. They play a significant and substantial role in the economy in Ireland – in terms of output, overseas sales and employment.

Despite the ravages occasioned by the Covid pandemic the economic relationship between America and Ireland, north and south, which has been developing for over 75 years, is erected on a very durable and rock-steady foundation. Ireland has maintained its attractions for American companies as a base from which to serve the largest consumer market on earth – the European Union.

Unlike, some popular fashions sweeping other nations, there is still a very positive attitude toward business in Ireland from all sectors of society; U.S. companies admire Ireland’s low corporate tax environment; tariff-free access to Europe’s markets continues to be crucial; and Ireland’s educated workforce ensures that the added value crated by these businesses is substantial.

British Pound vs. Euro over 5 years1.4

2016 2017 2018 2019 2020

1.3

1.2

1.1

1.0

United States weekly initial unemployment claims in 20208M

February March April May June July

6M

4M

2M

0

6.87M

1.31M

282K

Source: U.S. Department of Labor

Joblessness spikes in Ireland for 2020

7.5

8.0

Aug.Jul.Jun.May.Apr.Mar.Feb.Jan. Sep. Oct.

7.0

6.5

6.0

5.5

5.0

4.0

4.5

Source: Central Statistics Office Ireland

4.9

7.3

4.6

President’s rePort

14

Page 15: 2513 AL Ireland US Council Gala Dinner New York Journal 8.5x11 … · 2020. 12. 31. · Ireland-U.S. Council Foundation James S. Normile Partner Kattan Muchin Rosenman LLP Andrea

Of course, it is a relationship that is a two-way street. Ireland’s continuing investment in America – is still a highlight of this strong bilateral connection. Over 100,000 Americans are employed in the U.S. by Irish companies operating across all 50 states at almost 1,000 locations. Bureau of Economic Analysis numbers show that Ireland is now the ninth-largest source of foreign direct investment into the United States at $146.2 billion.

57th Annual Dinner of the Council in 2019Ireland continues to be a fertile environment for encouraging enterprise. In a manner, this proud record was the subtext of the proceedings at the Ireland- U.S. Council’s 57th Annual Dinner when the Council’s Award for Outstanding Achievement was presented for 2019 to Denis O’Brien, Chairman of Digicel. The event was held at the usual venue of the Metropolitan Club in New York City on Wednesday, November 13, 2019.

The Award also marked his distinguished and successful business career and underlined his notable and important achievements in building bonds between America and Ireland. At the same time, the Award also celebrated his significant and generous philanthropy over many years to causes aimed at improving the lives of poor people and those less-fortunate.

The members and directors of the Council were delighted on this special occasion to honor such an outstanding and worthy recipient with an award that is so richly-deserved. The Council was pleased, in the words of the announcement by the Council earlier in the year, “to mark the unique and positive contributions which Denis O’Brien has made to improving the historic and deep relationships between Ireland and the United States. Throughout his successful career, he has displayed an unmatched commitment to excellence in his business dealings.”

Denis O’Brien is a self-made billionaire who is Ireland’s wealthiest native-born citizen. Born in Cork, he was raised in Dublin and learned business from his father who was engaged in veterinary pharmaceutical sales. He is a 1977 graduate of University College Dublin and earned an MBA degree from Boston College in 1982.

He worked in banking and aircraft leasing in his early career and struck out on his own - first in radio broadcasting and then in mobile cellular telecommunications. He was awarded Ireland’s second national cellphone license in open competition and made a huge success of the business - eventually selling the Esat Telecom enterprise, which he built from scratch, to British Telecom.

Subsequently, he built a second cellphone business –Digicel, of which he is the majority owner. This company has operations in 32 markets in the Caribbean, Central America, and the Pacific Islands with a combined 12.8 million subscribers and 5,500 staff. He is also the founder of Communicorp Group, which has 42 radio stations in nine countries. His business empire also includes healthcare, energy, real estate, professional sports, aircraft leasing and other enterprises. His net worth has been estimated by Forbes Magazine at over $4 billion.

Council President-Emeritus, Dennis Swanson, in remarks at the 57th Annual Dinner making the presentation, said “Denis O’Brien exemplifies in many ways the enormous progress thathas been made in business in Ireland in the past half- century and the deep, durable and strong entrepreneurial instincts that thrive to this day in the Emerald Isle.”

Mr. Swanson continued “The mission of the Ireland-U.S. Council mission is to promote closer commercial connections and deeper business links between Ireland and the United States. Our 2019 Recipient of the Council’s Award for Outstanding Achievement has made such a huge contribution in this area. It is a pleasure for us to acknowledge and celebrate Denis O’Brien’s achievements.”

2019 Member-Guest Reception in DublinThe Ireland-U.S. Council’s popular Annual December Member-Guest Reception was held in Dublin on Thursday, December 12, 2019 with a focus on Ireland’s economic success story and future potential. The well-attended event was sponsored by Aer Lingus, PwC and Eaton Electrical Systems.

The President of the Council’s Ireland Chapter, Dr. Michael Somers, welcomed members and guests for the occasion. Keynote remarks were delivered by Danny McCoy, Chief Executive of IBEC, the largest representative body for business in Ireland. His interesting remarks dealt with Ireland’s economic track record and peered into the future discussing potential bottlenecks and logjams to future expansion that may lie ahead. As always, Danny McCoy was wholly-engaging in his speech which was interspersed with compelling analysis and opinions.

He was named Director General of IBEC in July 2009. Prior to his appointment he was Director of Policy for the organization. An economist by training, he had also served as Senior Research Officer at the Economic and Social Research Institute and as an economist in the Central Bank of Ireland.

IBEC is the largest and most consequential business representation

President’s rePort

15

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President’s rePort

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organization in Ireland with membership by 7,500 companies, institutions and organizations, of all sizes and from all sectors throughout Ireland.

2020 Winter Meeting: FloridaThis year’s Council’s annual Winter Meeting in Palm Beach, Florida, sponsored by Aer Lingus and CIE Tours International, saw great weather, strong participation by members and excellent speakers in various events - all held in great venues.

The Winter Meeting kicked off in great style with an opening-night dinner party on the rooftop of the beautiful oceanfront building - 400 South Ocean Blvd - on Wednesday, February 12. Held on a warm, picture- perfect evening, this event was generously hosted by Council President-Emeritus Michael J. Gibbons and his wife Cynthia.

Acting as Chairman of the 2020 Winter Meeting, he welcomed participants and noted that this was the 29 th successive year for the Council to host a Winter Meeting in Palm Beach for Council members from around the United States and from Ireland.

On the third day of the 2020 Winter Meeting - Valentine’s Day Friday, February 14 th - the Council hosted a luncheon meeting at The Sailfish Club at which several speakers addressed the gathering.

As it happened, with recent General Elections in Ireland and in the United Kingdom, our gathering provided a timely opportunity for updates for Council members and guests on developments on this front. Indeed, the U.K. election results seem to have provided the strong impetus needed for the return to work of the power-sharing Executive in Northern Ireland, overcoming the obstacles to their resuming office and again taking the reins of Government in the Province.

The details on this bit of good news were sketched in by Andrew Elliott, who is Northern Ireland’s top diplomat in Washington DC. These were his first set of remarks to this annual luncheon meeting as he had just arrived in America to take up his position in Washington DC during 2019 taking the place of Norman Houston who had just retired from the position.

Ireland’s Ambassador to the United States, Dan Mulhall had a slightly more-difficult task as Ireland’s General Election results, still fresh from becoming clear, had resulted in a true stalemate on who might form the next Government in Dublin. The principal partner in the outgoing Minority Coalition Government, the Fine Gael party, had already indicated it would be going into Opposition in the Dáil, Ireland’s Parliament. The Ambassador was extremely

clear in explaining a political situation that, on the date of lunch event, was a very fluid and quite-unclear scenario.

Ambassador Mulhall has served as Ireland’s envoy to the United States since presenting his credentials in the Oval Office to President Trump on September 8, 2017. Previously, he served as Ireland’s Ambassador in London, where he had been for four years.

The 2020 Winter Meeting also featured Council support of the Ireland Funds’ Dinner in Palm Beach, held at The Breakers Hotel on Thursday, February 13, 2020. And, time was found during the three-day event to stage the Council’s golf day, on that same day, at Mayacoo Lakes Country Club which again this year was played under warm and sunny skies.

Council MembershipWe always seek and welcome new members in our Ireland-U.S. Council family for our mission and activities on both sides of the Atlantic. As a membership organization, we are eager to meet candidates for membership. We ask our existing members to assist in putting out the good word to potential new members.

Our ThanksThe business conditions in both Ireland’s economy and in the United States and between our two countries have been severely impacted by the COVID pandemic. Despite this, as we look beyond the virus emergency, the outlook for the future must be viewed as very bright and holding much promise. I think I can speak for all of us in saying that the date cannot come soon enough when we can say that the pandemic is in our rear-view mirror.

The mission of the Ireland-U.S. Council is to enhance the business bonds and commercial connections between the United States and Ireland. All our efforts are aimed at ensuring that these connections continue to flourish.

We extend our thanks to all our members, supporters, sponsors and friends in the United States and in Ireland for their participation and support of our programs and activities this past year. As we head into 2021 and beyond, with great hope for better days ahead, we pray that you will sustain your commitment to that tradition of support and loyalty.

Tom HigginsExecutive Vice PresidentFiServ, Inc. &Council PresidentDecember 29, 2020New York City

Tom Higgins

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Kylemore Abbey, County Galway

WE CAN’T WAIT TO SEE YOUWhen the time is right. Because there are great times ahead, when you can wrap yourself up in the warmth of home. When you can enjoy the buzz of an Irish pub, dance to traditional music, and explore wildly beautiful landscapes. These are the moments that matter: a cliff-edge castle silhouetted against a fiery sunset, the chat with friends in a fire-warmed pub, the poetic silence of ancient hills. And when it comes to those legendary 100,000 welcomes, well… they’re reserved especially for you. Because good things come to those who wait.

Find your way home at

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57th AnnuAl dinner in new York

57 th Annual Dinner in New York CelebratesIreland’s most successful entrepreneurDenis O’Brien Honored with Ireland-U.S. Council’s Award for Outstanding Achievement

Ireland continues to be a fertile environment for encouraging enterprise. In a manner, this proud record was the subtext of the proceedings at the Ireland-U.S. Council’s 57 th Annual

Dinner when the Council’s Award for Outstanding Achievement was presented for 2019 to Denis O’Brien, Chairman of Digicel. The event was held at the usual venue of the Metropolitan Club in New York City on Wednesday, November 13, 2019.

The Award also marked his distinguished and successful business career and underlined his notable and important achievements in building bonds between America and Ireland.At the same time, the Award also celebrated his significant and generous philanthropy over many years to causes aimed at improving the lives of poor people and those less-fortunate.

The members and directors of the Council were delighted on this special occasion to honor such an outstanding and worthy recipient with an award that is so richly-deserved. The Council was pleased, in the words of the announcement by the Council earlier in the year, “to mark the unique and positive contributions which Denis O’Brien has made to improving the historic and deep relationships between Ireland and the United States. Throughout his successful career, he has displayed an unmatched commitment to excellence in his business dealings.”

Denis O’Brien is a self-made billionaire who is Ireland’s wealthiest native-born citizen. Born in Cork, he was raised in Dublin and learned business from his father who was engaged in veterinary

pharmaceutical sales. He is a 1977 graduate of University College Dublin and earned an MBA degree from Boston College in 1982.

He worked in banking and aircraft leasing in his early career and struck out on his own - first in radio broadcasting and then in mobile cellular telecommunications. He was awarded Ireland’s second national cellphone license in open competition and made a huge success of the business - eventually selling the Esat Telecom enterprise, which he built from scratch, to British Telecom.

Subsequently, he built a second cellphone business –Digicel, of which he is the majority owner. This company has operations in 32 markets in the Caribbean, Central America, and the Pacific Islands with a combined 12.8 million subscribers and 5,500 staff. He is also the founder of Communicorp Group, which has 42 radio stations in nine countries. His business empire also includes healthcare, energy, real estate, professional sports, aircraft leasing and other enterprises. His net worth has been estimated by Forbes Magazine at over $4 billion.

Council President-Emeritus, Dennis Swanson, in remarks at the 57 th Annual Dinner making the presentation, said “Denis O’Brien exemplifies in many ways the enormous progress that has been made in business in Ireland in the past half-century and the deep, durable and strong entrepreneurial instincts that thrive to this day in the Emerald Isle.”

Mr. Swanson continued “The mission of the Ireland-U.S. Council mission is to promote closer commercial connections and deeper business links between Ireland and the United States. Our 2019 Recipient of the Council’s Award for Outstanding Achievement has made such a huge contribution in this area. It is a pleasure for us to acknowledge and celebrate Denis O’Brien’s achievements.”

The 2019 Award for Outstanding Achievement was presented to Denis O’Brien, Chairman of Digicel. Seen during the cocktail reception prior to the dinner were Kieran Claffey, Partner, PwC and Council Treasurer; Denis O’Brien; Brian W. Stack, Council President; and Jim Adrian, Partner in the law firm of Adrian Cassidy Associates who serves as Council Secretary.18

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57th AnnuAl dinner in new York

Tourism Ireland’s Alison Metcalf presenting the Ireland-U.S. Council’s 2019 Cúchulainn Award to Norman Houston, Director of the Northern Ireland Bureau.

The Great Room stairwell of The Metropolitan Club pictured on the evening of the Ireland-U.S. Council’s 57th Annual Dinner.

Council members pictured just after the conclusion of the Council’s 57th Annual Meeting of Members held, as usual, before the 2019 Annual Dinner.

Lisa Wright of Prudential Financial; Elizabeth Crabill, Chief Executive of CIE Tours International with Michael Clark of Surmont LLC in Washington DC.

Our home-away-from-home - The Metropolitan Club in New York was the venue for the 57th Annual Dinner.

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57th AnnuAl dinner in new York

Norman Houston with Council Board Member Michael Brewster, Loretta Brennan Glucksman and Áine Sheridan.

John O’Donoghue with Northern Ireland Bureau’s Lorraine Turner.

Norbert Galligan of AIB Group in New York with Denis O’Brien and Roddy Feely, the Council’s Executive Director in Dublin.

Brass with strings: Virtuoso violinist Gregory Harrington with French Horn maestro Cuán Ó Seireadáin from Conradh na Gaeilge in Dublin.

Incoming Council President Tom Higgins of FiServ (seen at center) with his colleagues and guests.20

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57th AnnuAl dinner in new York

Lorraine Turner of the Northern Ireland Bureau with colleague Andrew Elliott, Andy Ruane and Tony Quinn.

Bill Byrne with Caroline Regan.

Norbert Galligan with Jill & Peter Hooper and Martin & Helen Murphy.

Aer Lingus colleagues Ken Karchinski with Helen Maguire and Bill Byrne.

Paul Flanagan and Orla O’Malley with Sr. Mary Turley of Flax Trust.z

Professor Brian MacCraith, President of Dublin City University with Denis O’Brien.

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57th AnnuAl dinner in new York

Council President-Emeritus Dennis Swanson at the podium.

Andrea Haughian, VP Business Development for Invest NI pictured with the then-just-arrived Director of the Northern Ireland Bureau Andrew Elliott.

At the commencement of the dinner, Sean O Riada’s haunting melody of Mise Éire was played beautifully on the French Horn by Cuán Ó Seireadáin.

Dr. David Dobbin, Chairman of the Belfast Harbour Commissioners with his wife Pauline pictured with Heather Stuart and Joe O’Neill, Chief Executive ofthe Belfast Harbour Commissioners.

All was ready for our members and their guests.22

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57th AnnuAl dinner in new York

James Morrissey, Denis O’Brien, Loretta Brennan Glucksman and Brian Stack.Former Cabinet Minister in Ireland’s Government Mary Hanafin with Alison Metcalf.

Council President-Emeritus Dennis Swanson presenting the award at the podium to Denis O’Brien.

Board Members Andy Ruane and Peter Hooper.

Tourism Ireland’s Alison Metcalf at the podium.

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57th AnnuAl dinner in new York

Council Board Member Michael Greene with Aidan Browne and Denis O’Brien.

Council Program Director Sophie Colgan addressed the dinner.

Cúchulainn Award Honoree Norman Houston addressing the dinner gathering.

Council Membership Director Ruth Croke with Jim Adrian.

A most elegant dining room.24

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2019 CúChulainn award

The Ireland-U.S. Council presented its Cúchulainn Award in 2019 to Norman Houston, Director of the Northern Ireland Bureau. Since 1998, he has been

based in Washington, D.C. representing in the United States the interests of Northern Ireland and its 1.7 million citizens. As Director of the Northern Ireland Bureau, the diplomatic mission of the Northern Ireland Executive in the United States and Canada, he has spearheaded the Northern Ireland Executive’s international strategy. He was the first Northern Ireland diplomat to escort The First Minister and Deputy First Minister into the Oval Office to meet then President George W. Bush.

He has worked to bolster and promote economic, educational, cultural and community links between Northern Ireland and the United States. He has been heavily involved in building awareness and creating greater understanding of Northern Ireland, especially in the 20 years since the signing of the Good Friday Agreement.

A native of Larne in Northern Ireland, he has extensive experience and has nourished contacts with senior political

figures, diplomats and business leaders. He has attended three inaugurations, met with U.S. Presidents Clinton, Bush, Obama and Trump - most recently he got a personal shout-out from President Trump at the 2018 St. Patrick’s celebrations in the White House. He has facilitated meetings with President Obama, Vice President Biden and has strengthened the Bureau’s profile on Capitol Hill and within the larger diplomatic community. In June 2018, he was awarded an OBE by Her Majesty, the Queen of England.

The Ireland-U.S. Council’s Cúchulainn Award

This Award is designed to mark significant achieve-ment in building relations between Northern Ireland and America. Cúchulainn is an Irish mythological hero who appears in the stories of the Ulster Cycle in the pre-Christian era. Born Sétanta, he gained folklore fame when, it is said, he successfully defended Ulster single-handedly against the armies of Queen Maeve of Connacht in the famous tales of the Táin Bó Cúailnge or “Cattle Raid of Cooley”.

Cúchulainn Award Honoree Norman Houston recieves his award from Brian stack, flanked by Bill Byrne of Aer Lingus and Tourism Ireland’s Alison Metcalf.

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Outstanding Achievement Award Honoree Denis O’Brien addressing the gathered audience.

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2019 award For outstanding aChievement

In his acceptance remarks at the Ireland-U.S. Council’s 57th Annual Dinner when he received the Council’s Award for Outstanding Achievement for 2019 Denis O’Brien, Chairman of Digicel, delivered insightful and well-received remarks. Here are excerpts from those remarks:

Ireland has recovered from an absolutely brutal recession. Everything has now turned around. Unemployment is at an all- time low and the government has a balanced budget and

is rolling over its sovereign debt borrowings at less than 1%. But our recovery was not without its pain. We were forced to swallow industrial levels of cod liver oil.

Apart from Brexit the major economic issues facing Ireland relate to corporate tax levels. It is my belief that the OECD will force us to modify tax laws and remove price transfer taxation benefits.

I do not think we should swim against this OECD tide. That said, I think it will result in a fairer and a more balanced world and certainly poorer countries in the developing world will benefit because taxes on profits will be paid where they are generated.

In Digicel, we pay our taxes in each country in which we operate. I see first-hand how a country like Haiti where the Government so badly needs tax revenues to fund its budget.

With just over 11m people, the Haitian Government has an annual budget for health and all government departments of just over $2.3 billion. That is why NGO’s such as Concern Worldwide are so involved in Haiti today and do such terrific work there.

The same applies to so many countries in Africa. The world cannot sit idly by and allow companies like Facebook to hoover up billions of dollars in revenues in some of the poorest companies in the world and pay no taxes on its revenues or profits.

Throughout the world, education has always been the key to unlocking countries from poverty, to putting them on a path to progress social and economic development. In Ireland we know this all too well, in the aftermath of The Famine in the 19th century.

In Ireland we must urgently double down on our funding of and investment into our universities and all third level institutions. The student/staff ratio needs to be halved.

Our Universities and other 3rd level institutions are doing their very best but with flat or less funding annually from government.

There have been three economic periods in Ireland in relation to Foreign Direct Investment.

• The first in the 1960’s, the newly established IDA attracted foreign companies and mainly low skill jobs were created.

• The second phase was in the 80’s and 90’s when the vision of Dermot Desmond saw the creation of the International Financial Services Centre. That period also saw some of the world’s largest pharma companies coming to Ireland and high growth tech companies including as Intel, Apple and Microsoft.

• We are now in the third phase where foreign investment has been led primarily by companies such as Google, LinkedIn, Facebook and others.

The fourth phase is coming rapidly at us and Ireland needs to be ready. We need to be adaptable and have a reservoir of young talented well-educated men and women to fill the job vacancies that will be created in the artificial intelligence, biotech, human genomics, precision medicine, drug research, quantum computing, science and data sectors. Climate change will force Ireland to become more responsible about energy forms and there is a need to accelerate our efforts regarding climate change and sustainability. There will also be challenges and opportunities in the food sector as global trends in diet put greater pressure on beef and dairy products.

The world is changing more rapidly than ever before. Everything is happening at break-neck speed. Ireland needs to ready and adaptable to capture the opportunities and maintain its position as one of the most dynamic countries in the world. I look forward to Ireland forging even stronger ties with the United States in grasping these opportunities.

In conclusion, I wish to thank the Council for this very generous award. It is all the more prestigious given the long list of distinguished previous recipients, all of whom made a very significant contribution to Ireland - US business relations. I also thank you on behalf of the business community in Ireland for the huge amount of work your Council does in forging investment and economic ties between the US and Ireland. Thank you all very much.

Excerpts from Remarks by Denis O’Brien2019 Ireland-U.S. CouncilAward for Outstanding Achievement

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Ireland US_8.5x11.indd

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StudioJob #Date

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Prudential Advertising973-802-7361

© 2017. Prudential, the Prudential logo, the Rock symbol and Bring Your Challenges are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

0307132-00001-00

Prudential is proud to sponsor

THE IRELAND-U.S. COUNCIL

Best wishes for continued success

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Darragh O’Connell’s portrait of his son, Mick is the winner of this year’s Award for Outstanding Portraiture, sponsored by the Ireland-U.S. Council, in conjunction with The Irish Arts Review. The award is presented in Ireland to an artist whose work is judged to be of outstanding merit. The Award is an important part of the Ireland-U.S. Council’s program to support the arts and arts education in Ireland. The selection was decided at the Royal Hibernian Academy’s (RHA) 2020 Annual Exhibition.

About the Artist and the PortraitA self-taught artist, Darragh came to painting relatively recently. Trained as a civil engineer, he began to explore his burgeoning interest by taking local evening art classes. This progressed to enrolling in the RHA school masterclass and workshop modules. He acknowledges the central role of his mentor, artist David Begley, in his development as a painter, in terms of his process and his confidence. O’Connell received further encouragement when he was short-listed in 2018 for the Zurich Portrait Prize at the National Gallery of Ireland.

The artist’s genre of choice is portraiture; it is important that he spends time with his subjects, as he tries to capture the nuances of their character. O’Connell cites the personal significance of studying historical portraits, such as those that hang in the National Gallery collection. Even after hundreds of years, the artist believes that such images allow viewers today to ‘see’ the sitter, contending that it is possible to read who they were, and that these portrayals provide unique insights into the subject’s given time and place.

O’Connell paints in the time-honoured medium of oil on canvas. His approach is multi-faceted and he begins by spending time with the prospective sitter, followed by a series of photographic studies, which he finds makes less demands of his sitter. From these images, he makes numerous drawn and painted sketches.When he first began to learn painting techniques, he removed

colour from his palette. In his more recent work, this approach has evolved; colour is present, albeit limited to five shades. O’Connell states that an important discovery for his process was Cremnitz white, a ‘softer’ white, which he uses instead of titanium white, a pigment he describes as too cold for his purpose. He marvels at the range of tones and shades found in nature, observing that no surface is seen as a flat pure colour but rather, through light and shade, surfaces present as being complex, modulated and varied, as seen in the example of flesh. He enjoys the challenges of depicting flesh and greatly admires the work of Lucien Freud and Jenny Saville.

The subject of this featured work is the artist’s son, who is also an artist and is studying in London. The painting evolved from a series of studies that started when he was nineteen years old, some three years ago.

The setting for the image is the O’Connell family home in Wexford. However, the background is pared back, with domestic objects kept to a minimum – all focus is on the figure. The son looks intently and with confidence towards his father. There is trust here. The sitter’s arms are joined but not defen-sively. The artist has taken great care in rendering the hands. Hands, throughout the history of art, have been an essential tool of expression – they give insight into character, they direct (or misdirect) the viewer and, for O’Connell, they are an important part of his personal memories. He speaks of his parents’ hands as representing security, and the age-worn hands of his grandparents as tender and wise. His son’s hands are strong and capable. The chair and the sitter are brought forward towards the picture plane.

Angela Griffith, assistant professor in the Department of History of Art and Architecture in Trinity College Dublin, describes the work: ‘This is an honest, respectful, unsentimental artistic study of a young male beginning his life’s journey towards independence. It is an assured image – one of quiet, confident masculinity – and is a remarkable artistic achieve-ment in itself. However, we also know it is a painting by a father of his son. And we cannot help but see a threshold moment, a parent capturing an image of their child, now an adult, who is in the process of moving on. It is a powerful example of how the art of portraiture can express meaning on many levels; for the artist, the sitter and the audience.’

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Prudential Financial SponsorsImportant Arts Program in Ireland

The Ireland-U.S. Council’s 2020 Award For Outstanding Portraiture Presented To Wexford Artist Darragh O’Connell

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Prudential Financial SponsorsImportant Arts Program in Ireland

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About the Award Program

This Award is undertaken with generous financial sponsorship from Council-member firm, Prudential Financial, a U.S.-based life insurance company. The Irish Arts Review, the quarterly publication devoted to Irish culture, art and design throughout the ages, manages the judging process with the support of the Royal Hibernian Academy, an all-island institution that is celebrating its 187th Anniversary. The panel of judges included John Mulcahy and Sonya Perkins from the Irish Arts Review.

As part of the sponsorship program associated with the Award, every Council member in the United States and in Ireland receives a copy of the excellent quarterly Irish Arts Review. Other benefits for Council members include a program of discounts available through the Irish Arts Review to many arts events in Ireland. Also included are calendars

of upcoming arts activities throughout the year plus online information on prices of Irish art and results of auction sales.

The Ireland-U.S. Council was founded in 1962 by business leaders in the United States and in Ireland. It is the premier transatlantic business organization that encourages and promotes business between Ireland and the United States. Its founding was in preparation for the visit of President John F. Kennedy to Ireland in the Spring of 1963, as a measure to build institutional form around a structure to improve business, economic and commercial relations between the two countries. The Council operates a variety of scholarship programs, stages seminars and hosts frequent events in Ireland and in America aimed at developing communications and dialogue between leaders in business, government and politics on both sides of the Atlantic.

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Ireland-U.S. Council’s 2020 Award For Outstanding Portraiture

Because of the Covid pandemic the 2020 Award for Outstanding Portraiture Presentation was a specially-organized, socially-distanced affair held in the courtyard garden of the AIB Group offices in Dublin. The presentation to the winning artist Darragh O’Connell (seen at right) was held in Dublin earlier in 2020. Present were (from left) David Roche of Prudential Financial’s Pramerica unit in Ireland; Colin Hunt, Chief Executive of AIB Group and Board member of the Ireland-U.S. Council; with Marie-Claire de Sachy, Chief Executive of the Irish Arts Review and the winning artist Darragh O’Connell.

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Powerscourt House and Gardens, County Wicklow

IRELAND IS WAITINGWaiting for the right time. For the time when we can once again enjoy things together, from feasts with family and friends to soul-stirring traditional music in the legendary Irish pub.

And for a time when we can share all that we love so much about Ireland. The castles and grand houses filled with intriguing stories. The rolling green hills where High Kings once reigned supreme. The cities where echoes of the Vikings mix with culture, creativity and charm. This is a place where smiles are broad and the 100,000 welcomes are legendary.

They say good things come to those who wait.

Find your way home at

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2019 december member-Guest recePtion

The evening was sponsored by Aer Lingus – seen (from left) were airlinecolleagues Megan Hickey, Yvonne Muldoon, Dermot Lee and Victoria Elmore.

Seen at the Ireland-U.S. Council’s 2019 December Member-Guest Reception inDublin’s InterContinental Hotel were Council Executive Director in Ireland, Roddy Feely with Yvonne Muldoon of Aer Lingus and Andy Ruane of the Irish Channel America.

Guest Speaker Danny McCoy of Ibec with Dr. Michael Somers, Council President - Ireland Chapter.

Key Topic: Ireland’s economic success and future potential

Keynote Speaker: Danny McCoy, Chief Executive of Ibec

The Ireland-U.S. Council’s popular Annual December Member-Guest Reception was held in Dublin on Thursday, December 12, 2019 with a focus on Ireland’s economic

success story and future potential. The well-attended event was sponsored by Aer Lingus, PwC and Eaton Electrical Systems.

The President of the Council’s Ireland Chapter, Dr. Michael Somers, welcomed members and guests for the occasion. Keynote remarks were delivered by Danny McCoy, Chief Executive of Ibec., the largest representative body for business in Ireland. His interesting remarks dealt with Ireland’s economic track record and peered into the future discussing potential bottlenecks and logjams to future expansion that may lie ahead. As always, Danny McCoy was nothing less than wholly-engaging in his speech which was interspersed with compelling analysis and opinions.

He was named Director General of IBEC in July 2009. Prior to his appointment he was Director of Policy for the organization. An economist by training, he had also served as Senior Research Officer at the Economic and Social Research Institute and as an economist in the Central Bank of Ireland. He has held lecturing posts at Dublin City University, University College London, University of Oxford and Trinity College Dublin. He was Manager of the European Forecasting Network comprising ten European research institutes in a joint project for the European Commission.

IBEC is the largest and most consequential business representation organization in Ireland with membership by 7,500 companies, institutions and organizations, of all sizes and from all sectors throughout Ireland. The organization works to promote business interests by lobbying and advising governments, by creating networking opportunities for enterprises and by conducting research. It lobbies the Irish Government, European Union and international legislators on a wide range of policy priorities for business. IBEC is headquartered in Dublin, has over 180 staff with other offices in Cork, Galway, Waterford, Limerick and Donegal. It also maintains an office in Brussels, Belgium.

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2019 december member-Guest recePtion

Aidan Smyth of Labplan with Dan Feaheny of Feeney Ventures.

Richard Henry of Lex Risks Solutions, Paddy Dunigan of Kilbeggan Racecourseand Pat O’Halloran of Barnmore Ltd.

The Ireland-U.S. Council 2019 Annual Report was available for members andtheir guests.

PwC was also a sponsor of the evening.

Donard Gaynor was there with Marie O’Connor.

Paul Daly of BNP Paribas with Brendan Cahill, Marie O’Connor and MichaelDonohoe of Colliers International.

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2019 december member-Guest recePtion

Council Board Member and event sponsor Phil Kane of Eaton Electrical Systems addressing the gathering from the podium.

Gerard Lawless of Foxbridge Capital with Kevin Tuck of Alltech and AidanPrendergast of Cardinal Consulting.

Paul Burke and Phelim O’Neill of Phelim O’Neill Solicitors.

Sinéad Ni Mhurchú of the American College Dublin with Derek Gleeson of theDublin Philharmonic Orchestra and Deirdre Masterson, also of the AmericanCollege Dublin.

Colleagues at the law firm of Eugene F. Collins David Heneghan and Áine Hartigan.

David O’Sullivan of the Ireland-U.S. Council with Bill Byrne of Aer Lingus.

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2019 december member-Guest recePtion

Colleagues from the firm of Irish Tax Rebates Martin Brennan and Niall Costello.

Dr. Tríona Croke with Paul O’Neill of Jackson Wine Estates, Frances Kelly andTeresa Roche.

Aer Lingus had brought along some goodies for the guests. Hilary Finlay and Sean Finlay of Geoscience Ireland with Dr. Jack Golden of theEuropean Chamber of Commerce and Tadhg O’Donoghue.

UCD colleagues Suzanne Shorten and Enda Carroll with Susan McKeown of theCuala Foundation.

Event Sponsor PwC Partner Andrew O’Callaghan.

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2019 december member-Guest recePtion

Dr Michael J. Somers pictured with Dave Shepherd of Aer Lingus; Phil Kane ofEaton Electrical Systems with Finola Cunningham of the U.S. Embassy and TomMurphy, also of Eaton Electrical Systems.

Bridget Mulcahy, Publisher of the Irish Arts Review pictured with David O’Sullivan and Pat Edmondson of Dublin City University.

Cheers! Anne Nolan and Tony Condon also attended.

Seen at the Ireland-U.S. Council’s 2019 December Member-Guest Reception inDublin’s InterContinental Hotel were: Vice Admiral Mark Mellett; Council} Ireland Chapter President Dr. Michael J. Somers, Chairman, Chairman of ]Goodbody; Róisín Fitzpatrick, The Artist of the Light, Danny McCoy of Ibec; Toby McCoy and Elizabeth Mellett.

Council Program Director in Ireland Jenny Heaphy spoke at the event.

Maura Cassidy of Goodbody with Dr. Siobhan Weston and Council member Dr. Mona McGarry.

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2019 december member-Guest recePtion

Dublin City University’s Pat Edmondson with Bacchus Vinos’ Henry Anderson.

Gary Hanley, formerly of Invest Northern Ireland in the United States with Karen Thorpe of the Gaelic Players Association and Niall Shanley of WYRA.

Siobhan Byrne Learat of Adams & Butler and Brian Hughes of United Airlines.

3535

HonoringAward for Outstanding Achievement

Lifetime Achievement Award

A Business Organization

Join us for our 2021 Annual Dinner

in New York

Book and Pay online at:www.irelanduscouncil.com

Dómhnal SlatteryChief Executive Avolon Holdings

Barbara KosterDirector Dime Savings Bank

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council’s 2020 winter meetinG

Council’s 29th Winter Meeting is staged in2020 in Palm Beach, Florida

This year’s Council’s annual Winter Meeting in Palm Beach, Florida, sponsored by Aer Lingus and CIE Tours International, saw great weather, strong participation

by members and excellent speakers in various events - all held in great venues.

The Winter Meeting kicked off in great style with an opening- night dinner party on the rooftop of the beautiful oceanfront building - 400 South Ocean Blvd - on Wednesday, February 12. Held on a warm, picture-perfect evening, this event was generously hosted by Council President-Emeritus Michael J. Gibbons and his wife Cynthia.

Acting as Chairman of the 2020 Winter Meeting, he welcomed participants and noted that this was the 29th successive year for the Council to host a Winter Meeting in Palm Beach for Council members from around the United States and from Ireland.

On the third day of the 2020 Winter Meeting -Valentine’s Day Friday, February 14 th - the Council hosted a luncheon meeting at The Sailfish Club at which several speakers addressed the gathering.

As it happened, with recent General Elections in Ireland and in the United Kingdom, our gathering provided a timely opportunity for updates for Council members and guests on developments on this front. Indeed, the U.K. election results seem to have provided the strong impetus needed for the return to work of the power-sharing Executive in Northern Ireland, overcoming the obstacles to their resuming office and again taking the reins of Government in the Province.

The details on this bit of good news were sketched in by Andrew Elliott, who is Northern Ireland’s top diplomat in Washington DC. These were his first set of remarks to this annual luncheon meeting as he had just arrived in America to take up his position in Washington DC during 2019 taking the place of Norman Houston who had just retired from the position.

Ireland’s Ambassador to the United States, Dan Mulhall had a slightly more-difficult task as Ireland’s General Election results, still fresh from becoming clear, had resulted in a true stalemate on who might form the next Government in Dublin. The principal partner in the outgoing Minority Coalition Government, the Fine Gael party, had already indicated it would be going into Opposition in the Dáil, Ireland’s Parliament. The Ambassador was extremely clear in explaining this quite unclear scenario.

Ambassador Mulhall has served as Ireland’s envoy to the United States since presenting his credentials in the Oval Office to President Trump on September 8, 2017. Previously, he served as Ireland’s Ambassador in London, where he had been for four years.

The 2020 Winter Meeting also featured Council support of the Ireland Funds’ Dinner in Palm Beach, held at The Breakers Hotel on Thursday, February 13, 2020. And, time was found during the three-day event to stage the Council’s golf day, on that same day, at Mayacoo Lakes Country Club which again this year was played under warm and sunny skies.

Join Us At The 30th Winter Meeting in 2021The Council’s 30th Annual Winter Meeting is scheduled to open in Palm Beach, Florida on the evening of Wednesday,

February 10 and will run through Friday, February 12, 2021.

Dining al fresco on a warm, blue-sky February night under the stars in Palm Beach, Florida. Does it get nicer than this?38

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council’s 2020 winter meetinG

Richard McClain and his guest.Incoming Council President Tom Higgins with his wife Fiona.

Kelly Layman, Ambassador Dan Mulhall with Eileen Cornacchia. Maura Nolan, Pat & Mary Donaghy, James Doran, Jim Adrian and Mike Kelley.

2020 Winter Meeting Chair and Council President-Emeritus Mike Gibbons addressed the opening night gathering.

Vicki & Jim McHugh.

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council’s 2020 winter meetinG

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John FitzGerald is the Librarian at University College Cork and is also the Commissioning Editor of a series of new books on history in Ireland that have taken the country by storm. The Atlas of the Great Irish Famine was Winner of the Best Irish Published Book in 2012, while its later companion publication, Atlas of the Irish Revolution, was Ireland’s Book of the Year in 2017 when it was first published.

His lunch presentation at the 2020 Winter Meeting described new understanding of the causes and long-term effects of the Great Famine – the most pivotal event in modern Irish history, with implications that cannot be underestimated. Over a million people perished in Ireland between 1845-1852, and well over a million others fled to other places within Europe and America. By 1850, the Irish made up a quarter of the population in Boston, New York City, Philadelphia, and Baltimore. The 2000 U.S. census had 41 million people claim Irish ancestry, or one in five white Americans.

The book, Atlas of the Great Irish Famine (1845-1852), considers how such a near total devastation of a nation by natural causes could take place in industrialized, 19th century Europe. It clearly situates the Great Famine alongside other world famines for a more globally-informed approach.

The Atlas bears witness to the many tens of thousands of people who died and are buried in mass Famine pits or in fields and ditches, with little or nothing to remind us of their going. The centrality of the Famine workhouse as a place of destitution is also examined in depth. Likewise, the Atlas represents and documents the conditions and experiences of the many thousands who emigrated from Ireland in those desperate years, with case studies of famine emigrants in cities such as Liverpool, Glasgow, New York and Toronto.

The Atlas places the devastating Irish Famine in greater historic context than has been attempted before, by including over 150 original maps of population decline, analysis and examples of poetry, contemporary art, written and oral accounts, numerous illustrations, and photography, all of which help to paint a fuller picture of the event and to trace its impact and legacy. In this comprehensive and stunningly illustrated volume, over fifty chapters on history, politics, geography, art, population, and folklore provide readers with a broad range of perspectives and insights into this event.

A sister (and more recent) book to the famine book is The Atlas of the Irish Revolution, which is a landmark publication that presents scholarship on the revolutionary period in a uniquely accessible manner. Featuring over 200 original maps and 300 images, the Atlas includes 120 contributions by leading scholars from a range of disciplines. They offer multiple perspectives on the pivotal years from the 1912 Home Rule crisis to the end of the Irish Civil War in 1923.

Guest Speaker at 2020 Winter Meeting LunchJohn FitzGeraldLibrarian at University College Cork

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council’s 2020 winter meetinG

The Sailfish Club was the venue for our lunch gathering on Valentine’s Day 2020.Jim Adrian, Greta Mulhall with Jimmy & Sharon Lynch.

The Ireland Funds’ Caitriona Fottrell with Andrew Elliott of the Northern Ireland Bureau and Council President Brian W. Stack.

Lise Moran and Lore Dodge.

Jack McCarthy and Susan Anable. Ambassor Dan Mulhall, Ambassador Elizabeth Frawley Bagley with Mike Gibbons.

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council’s 2020 winter meetinG

Mayacoo Lakes decal at the Clubhouse entrance.Áine and Eddie Dowling.

Audrey Phelan of the Royal Irish Academy of Music with Council member Mari Atchason of Travel Professionals, Inc.

The Head PGA Golf Professional at Mayacoo Lakes Country Club is a native of Scotland and has a wonderful name – Alastair Mackenzie.

Mayacoo member Stephanie Beck with Bill Murphy with Ken & Miriam McCullagh.

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Tom Killarney enjoyed the day.

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Pat & Mary Donaghy with Michael Brewster. Brian Burns with Esther Murray.

council’s 2020 winter meetinG

Dan & Greta Mulhall.Marty Keating and Jake Latchman.

43The ocean is always inviting in Palm Beach, Florida.

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council’s 2020 winter meetinG

Ambassador Dan Mulhall addressing the lunch gathering.Michael Brewster, Jean law and Andrew Elliott.

Rev. Gregory Quinn with Audrey Phelan of the Royal Irish Academy of Music and Council member James Doran.

Eileen and Brian Burns.

Seen at the Ireland-U.S. Council’s 2020 Winter Meeting lunch at The Sailfish Club were Esther Murray and Cynthia Gibbons.

Kelly Layman with Shane Stephens, Ireland’s Consul General for the Southeast U.S., who is based in Atlanta, GA.

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Team University College Cork: John O’Sullivan and Jean Law.

council’s 2020 winter meetinG

Council member Jimmy Lynch with John Fitzgerald.

Council member Declan O’Brien with Mayacoo member John Paxnan.

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A Business Organization

Become a member today!

Enjoy important Business Connections on both sides of the Atlantic. It’s Easy.

Sign up online at:www.irelanduscouncil.com

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The power of giving at University College Dublin

Ranked among the top 1% of higher education institutions worldwide, UCD is a research-intensive university with an ambitious strategic vision for

the future. Guided by the core values of justice and equality, the University aims to have a transformative impact in the areas of health, sustainability and digital technology, and ultimately to empower humanity through the advancement of knowledge.

The fulfilment of these ambitions relies on the support of philanthropic donors and alumni, whose generosity – whether in the form of major gifts or annual giving – touches every aspect of UCD. Philanthropy supports equality of access to life-changing educational opportunities. It is also the bedrock of the unique and ever-evolving campus south of Dublin city centre, where cutting-edge teaching, learning and research facilities are integrated within the beautiful, biodiversity-rich natural landscape of Belfield.

Indeed, philanthropic giving has a ripple effect that extends far beyond the University itself. It is evident in the excellent graduates who bring fresh ideas and strong leadership qualities into their communities, organisations and institutions. It is evident too in UCD’s outstanding researchers, and their pioneering work to address society’s most complex challenges.

Responding to Covid-19 The Covid-19 crisis, which shook the world in 2020,

will undoubtedly have far-reaching implications for UCD. Philanthropic support will be more important than ever as the University moves forward into a post-pandemic world.

At this critical time, UCD Foundation is focusing its fundraising efforts on a number of key priorities under the umbrella of the UCD Covid-19 Emergency Fund. These include

ensuring that students have access to the financial and mental health resources they need; funding breakthrough research to address the immediate problems facing our society as well as ensuring that the University is prepared to respond to emerging challenges and opportunities as they arise in the future; and adapting the learning environment for a changed world.

Supporting studentsMany students have struggled to deal with the challenges

arising from the campus closure and the restrictions on their day-to-day lives as a result of the pandemic. Many are under stress because they do not have access to essential technology, broadband, or a suitable study space. Others are faced with increased caring responsibilities, changes in their economic circumstances, and illness.

Philanthropic support ensures that students experiencing disadvantage, hardship, or psychological stress have the resources they need to excel in their education at UCD.

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Philanthropy supports world-class education and innovative research at Ireland’s most global university

Professor Andrew Deeks, President University College Dublin

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Today’s students have the potential to change the world in the future, and it is vital that we do not lose this potential during turbulent times.

UCD is committed to breaking down barriers to access and opportunity, and providing students with everything they need to overcome adversity and to flourish and thrive in all areas of college life.

Breakthrough researchAs a leading research-intensive university, UCD is at the

forefront of impactful, innovative research that makes a valuable contribution to society and transforms lives.

The current crisis underscores the importance of research investment, in the urgent quest for solutions to complex challenges across the spheres of medicine, science, engineering, psychology, economics, and social and public policy. UCD is driving critical clinical research to identify effective treatments for Covid-19 and understand the long-term effects of the disease. The University’s researchers are also seeking to address the longer term fallout from the pan-demic, to identify and mitigate the social impacts, and to support Ireland’s economic recovery.

With philanthropic support, UCD is rapidly advancing a programme of cutting-edge research to make a meaningful difference for the health and economic wellbeing of society. This places the University in a strong position to respond quickly and effectively to emerging priorities.

A campus fit for the future The face of university education may be changed forever

in the wake of the pandemic. A hybrid approach that combines online teaching and learning with on-campus labs, tutorials, and socially distanced small-group activities is likely to become the norm as campuses reopen.

Before this became a necessity as a result of Covid-19, UCD was already moving forward with an ambitious campus development plan. The evolution of a campus designed around flexible, adaptable spaces has acquired a new urgency in light of the pandemic, as it will enable the University to safely accommodate a growing student population.

As part of its strategic plan, UCD is also continuing to invest in outstanding science facilities, which will strengthen its position as a global leader in digital technology and innovation.

Progressing with this development now, despite the uncertainty of the current climate, is the right thing to do for the benefit of future generations of UCD students. By investing in world-class facilities and infrastructure, UCD will continue to attract a diverse cohort of excellent students, faculty and staff from all over the world, and advance its reputation and standing globally.

UCD is deeply grateful to the many donors, corporate partners and friends whose generous support and commitment are intrinsic to its success. If you are interested in learning more about how UCD is preparing to rise to the challenges of the future, please contact Orla Gallagher, Director of Development at UCD Foundation ([email protected]).

University College Dublin Belfield Campus - School of Medicine building.

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ucdfoundation.ie/legacy

Support future generations at UCDWe invite you to consider leaving a gift in your will to help us to continue providing a best in class educational experience for our students.

Your legacy will shape tomorrow’s leaders, innovators and problem solvers, helping them to reach their full potential.

To find out more please contact: Mark McDonnell, Head of Annual Giving, UCD Foundation, Tierney Building, Belfield, Dublin 4 Tele: +353 1 716 1286 Email: [email protected] Registered charity: CHY 12448

“I am tomorrow, or some future day, what I establish today”

James Joyce (BA 1902)

LegacyAdNov2020.indd 1 19/11/2020 12:46

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OF LIFE’S JOURNEYOF LIFE’S JOURNEYFOR EVERY STEP

DELIVERINGFOR EVERY STEP

DELIVERINGBETTER NUTRITION

www.glanbia.com

9003 20 GMSL Ireland US Council Ad 7.5x10 FINAL.indd 1 17/12/2020 16:44

ucdfoundation.ie/legacy

Support future generations at UCDWe invite you to consider leaving a gift in your will to help us to continue providing a best in class educational experience for our students.

Your legacy will shape tomorrow’s leaders, innovators and problem solvers, helping them to reach their full potential.

To find out more please contact: Mark McDonnell, Head of Annual Giving, UCD Foundation, Tierney Building, Belfield, Dublin 4 Tele: +353 1 716 1286 Email: [email protected] Registered charity: CHY 12448

“I am tomorrow, or some future day, what I establish today”

James Joyce (BA 1902)

LegacyAdNov2020.indd 1 19/11/2020 12:46

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RIAM 2020: Building on the Past, Planning for the Future

Ireland shut down due to COVID-19 on March 12th and within 7 days the RIAM had pivoted to online music tuition and exams. We kept our music

students learning, kept all our staff in employment, and contributed to an embattled country with livestream performances and musical messages of hope through this uncertain time. We end the year closer as a community and with the books balanced.

The re-development of the RIAM campus was born during this strange time. Purcell Construction (a Galway company) began onsite on 18th May. Over the summer we watched the demolition, saying goodbye to many musical memories and hello to a beautiful, open, spacious blank canvas for Todd Architect’s amazing design.

The new RIAM campus will include 75 teaching rooms, a 300-seat recital hall, a music therapy hub, an opera studio, and penthouse library. It will inspire and delight our students, staff, and audiences. With the gracious gift of paintings for every room in the campus thanks to AIB, and the wonderful warm design, it will be a feast for the eyes as well as the ears.

RIAM has secured funding of €21 million for the programme, with the full building cost coming in at €24 million. We want to thank those donors based in the USA who have contributed almost €4 million so far to the project. Your support will make our musical dreams come true for Ireland.

We remain on track to open the premises in September 2021. What a celebration we will have!

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2020 is a year that none of us will forget, and that is especially true of the Royal Irish Academy of Music in Dublin.

Deborah Kelleher, Director, Royal Irish Academy of Music

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Tel: +353 1 632 5386 Mail: [email protected]

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Belfast Harbour keeps the region’s economy moving towards recoveryJoe O’Neill, CEO of Belfast Harbour, discusses the impact of the Covid-19 pandemic on trade to and from Northern Ireland and how the port expects to play a big part in getting the economy back on track in 2021.

As we near the end of 2020, I’m sure all of us will look back on it as a year like no other, for ourselves and our families, for our businesses and employers and for society as a whole.

Belfast Harbour has not been immune to the disruption caused by Covid-19. The pandemic has been a truly global crisis and has provided the sternest test of resilience in a generation for the port industry, our customers and their supply chains.

We have watched the sector collectively rise to these challenges and it has been inspirational to see the determination of the wider port and transport community to successfully adjust and adapt.

The industry has been heartened by the news that vaccines will soon be made available and, while there are likely to be some months of volatility ahead in the global economy, we remain upbeat that as an industry we are through the worst of it and can get back on track.

Before the lock-down took effect in March, Belfast Harbour was reviewing a very strong year for trade. Tonnage handled through the port was above 24 million for the second year running, with

very positive figures for containers, roll-on roll-off traffic and exports of a number of key products, including aggregates.

Based on these strong trading figures we reported a sound financial performance for the year, with turnover at £65.9m and operating profits at £30.6m, in line with our expectations.

We didn’t know at the start of the year just how important this strong financial footing would be, but it has enabled us to react quickly and step forward to play our part in helping to get the local economy back on track.

For over 400 years, Belfast Harbour has been the engine room of the local economy, playing a key role in keeping daily life in Northern Ireland moving and our critical role in keeping essential goods and supply chains flowing smoothly during the coronavirus crisis provides clear evidence that is stillthe beating heart of the City. The Port has continued to operate safely and effectively throughout the crisis and has remained open for business every day.

It was vital that we did remain open for business. More than two thirds of what comes in and out of Northern Ireland by sea comes through Belfast Harbour – from the food in our weekly shop, to the materials for household improvements, to the wide variety of products sold by our businesses and shipped around the world.

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Trade dropped significantly during the early months of the lockdown but has now recovered in most sectors. The worst impacts have been to our cruise, tourist and leisure activities which all but ceased operation with only one cruise ship calling in Belfast this year when we were expecting to receive 130. We are confident this business will return, but it may take some time.

Our Trust Port status requires us to reinvest all profits back into developing the port and harbour estate for the benefit of customers and wider economy. In the past 10 years we have invested over £290m in port infrastructure and wider estate regeneration and we have currently committed £115m in investment to strategically significant marine and estate projects in the next few years.

During 2019, just under £50m was invested in the port’s facilities, including upgrades the container terminal at Victoria Terminal 3, the ramp and facilities at the Belfast-Liverpool ferry terminal and the modernisation of our crane facilities, including a commitment to purchase two new £6.6m ship-to-shore cranes, which have now been delivered.

Our major construction contract for what will be the City’s largest ‘Grade A’ office building , City Quays 3, is on schedule for completion in 2021 and construction is underway at Olympic House, our co-development project with Titanic Quarter Limited. Both projects will be important assets in the pursuit of Foreign Direct Investment opportunities as part of the post Covid recovery.

Discussions with prospective tenants lead us to believe there will be continued demand for office space despite the pandemic. Many current of our City Quays tenants already work a ‘hybrid’ workspace model which has an office at its core supported by varying levels of home working. They continue to see value in having high quality offices where their people can collaborate,

share ideas and interact safely.Filming at Belfast Harbour Studios also started up again

over the summer and we received planning permission for our extension to the studio complex. While productions have been disrupted we still expect the demand for high quality original film and television content, driven by streaming services like Netflix, Disney +, Amazon Prime and Apple, will lead to increased demand for studio space.

Belfast Harbour’s long-term strategy to 2035 – A Port for Everyone –remains our blueprint for future growth. Our ambition is that Belfast becomes the best regional port in the world, augmenting our role as a gateway to the world for our importers and exporters, and a key hub for economic growth.This will include further developing Belfast Harbour as a key economic hub for the region by investing in marine infrastructure, smart technologies and green initiatives.

The strategy was developed with a number of risks and challenges in mind. We’ve added Covid-19 into the mix, alongside the other big issue of the moment - the impact of Brexit on trade into and from Northern Ireland.

At the time of writing, the discussions between the UK government and Europe over the outworking of the NI Protocol and a possible trade deal were still in the balance. Whatever the outcome, we at Belfast Harbour stand ready to play our part in the implementation of any new arrangements and will endeavour to do what we can to enable seamless trade.

Belfast Harbour’s immediate goal is to work with our customers to help get Northern Ireland’s economy back on track. 2021 will be challenging, but our sound finances, ambitious investment plans and our commitment to work with our city partners for mutual success, provides a good platform from which to start.

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