Blog: Republic could be big beneficiary of Brexit if it can attract fund managers – The Irish Times

The Republic could be one of the biggest beneficiaries of Brexit if it can work out how to lure fund managers here, according to a leading industry figure.

Martin Gilbert, co-founder and former chief executive of Aberdeen Asset Management, told an online conference that the Republic had done very well as a fund administration and processing centre.

He argued that the Republic needed to work out how to attract asset managers to locate here so funds could be managed directly from here.

Mr Gilbert added that if the State succeeds in this the Republic would “be one of the biggest beneficiaries from Brexit”.

More than 170 asset managers and financial technology companies have set up shop in the Republic over the past two years, potentially creating more than 6,000 jobs.

Two-thirds of the firms based here intend to boost their presence in the Republic, according to Andrew O’Callaghan, PwC asset management partner.

He expects these businesses to create up to 6,000 jobs over the next 18 months with the correct focus.

David Clarke, policy director and founder of the Scottish-Irish Finance Initiative, said the Republic could potentially be a bridge into Europe for US, Asian and UK investors.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s