Aberdeen Standard Investments announce European Hub in Dublin
Dublin continues to establish itself as one of Europe’s financial hubs, with the announcement Aberdeen Standard Investments will open an investment and distribution business in the city.
27 February 2018
Aberdeen Standard Investments (ASI), the asset management company, has announced it intends to establish an investment and distribution business in Dublin.
Welcoming the announcement the Minister for Business, Enterprise and Innovation, Heather Humphreys TD said, “This is a great win for Ireland as we seek to deepen and expand the range of Financial Services companies who are investing here.“As we face into the challenges of Brexit, we are determined to pursue and seize new opportunities and the Government has, therefore, been making strenuous efforts to ensure that we have the right conditions in place in Ireland to attract the key knowledge based sectors.”
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CEO of IDA Ireland Martin Shanahan said, “Aberdeen Standard Investment’s decision to establish an investment and distribution hub in Dublin represents 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. It remains one of the leading countries in the world in which to do business with a highly skilled work force, a consistent track record of being pro-business, and an unwavering commitment to the European Union.”
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European business hub
Subject to regulatory approval, the new entity will be one of ASI’s 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.The Dublin-based hub will complement ASI’s Luxembourg operation which manages over 100 funds that are marketed across Europe and in many parts of Asia and the Americas. ASI manages over €70 billion on behalf of customers and clients based in Europe ex-UK.Welcoming the announcement the Minister for Business, Enterprise and Innovation, Heather Humphreys TD said, “This is a great win for Ireland as we seek to deepen and expand the range of Financial Services companies who are investing here.“As we face into the challenges of Brexit, we are determined to pursue and seize new opportunities and the Government has, therefore, been making strenuous efforts to ensure that we have the right conditions in place in Ireland to attract the key knowledge based sectors.”
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Dublin's global strategy
Gary Marshall, Head of EMEA at Aberdeen Standard Investments, comments, “The establishment of our investment and distribution business in Dublin is part of a global strategy of deepening our local footprint in the regions around the world in which we operate. “The Irish hub, which will contract directly with European clients and oversee our European branches, complements our Luxembourg hub which manages funds across Europe.“These two businesses, working together and with our German business based in Frankfurt will ensure that we continue to meet the needs of our customers and clients across Europe, after the UK leaves the European Union. It is a combination that will give clear and distinct focus to the needs and aspirations of our clients in the EU27 countries.”CEO of IDA Ireland Martin Shanahan said, “Aberdeen Standard Investment’s decision to establish an investment and distribution hub in Dublin represents 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. It remains one of the leading countries in the world in which to do business with a highly skilled work force, a consistent track record of being pro-business, and an unwavering commitment to the European Union.”
For related news and features, visit our Enterprise section. Look out for the launch of 2018’s Relocate Awards, entry is now open. Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.
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