Investor Architas is appointing 11 people to oversee the €7.5 billion in assets that it has located in the Republic in a move prompted by uncertainty over Brexit.
Architas, part of French insurer Axa Group, has registered funds with assets of about €7.5 billion across Europe and Asia in Dublin, but up to now has managed this money from London.
The investor said this week that it is appointing Charles Lamb as chief executive of the Irish operation, Niall McDonnell as senior investment manager and Richard Byrne as investment manager.
Overall, the firm’s Irish business, Architas Multi-Manager Europe Ltd, is hiring 11 people to oversee its operations, meaning the company is shifting management of the €7.5 billion in assets to Dublin from London.
Architas chief executive Hans Georgeson said the company had been reviewing its operations ahead of Brexit.
Client support
"Architas has a long history in both the UK and continental Europe and is well-placed to continue to support our clients globally after the UK leaves the European Union, " he said.
"With Architas businesses operating in London, Dublin, Paris and Brussels, we are confident that there will be limited impact to our clients regardless of the type of Brexit we eventually see."
The Irish staff will manage assets on behalf of Axa customers across Europe as well as for the global insurance group itself.
In addition, three of the funds registered in Dublin are available to Axa customers in selected markets in Asia. The funds invest in a mix of assets and regions around the globe.
Minister for Finance Paschal Donohoe will speak at Architas's formal launch of the Irish operation in Dublin next week.
