Tuesday 22 May 2018

Major asset manager setting up Dublin hub

Martin Shanahan, IDA chief executive, said the decision represented a
Martin Shanahan, IDA chief executive, said the decision represented a "notable endorsement" for the investment fund industries here.
Colm Kelpie

Colm Kelpie

Asset manager Aberdeen Standard Investments (ASI) is to establish an investment and distribution business in Dublin.

ASI, the largest fund manger in the UK, directs over €70bn of assets.

ASI said the new operation here will be one of its key European Union business hubs, responsible for the contracting of investment management services in Europe and for ASI's network of branch offices across the continent.

Martin Shanahan, IDA chief executive, said the decision represented a "notable endorsement" for the investment fund industries here.

"Ireland is a serious player and a very attractive location for international financial services companies from all over the world," he said.

"It remains one of the leading countries in the world in which to do business with a highly-skilled workforce, a consistent track record of being pro-business, and an unwavering commitment to the European Union."

Victoria Brown has been appointed managing director of the new entity, subject to regulatory approval, and will work alongside Jennifer Richards, head of distribution - Ireland.

"Ireland is now a major player and a very attractive location for financial services companies from all over the world," Ms Brown said.

"We have the skills and structures to support new projects and to welcome new investors."

Gary Marshall, head of Europe, Middle East and Africa at ASI, said the new business in Dublin is part of a global strategy of deepening the company's local footprint in the regions it operates in around the world.

Business, Enterprise and Innovation Minister Heather Humphreys described the decision as a "great win for Ireland".

Irish Independent

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