26th February 2018
Aberdeen Standard Investments (ASI) is pleased to announce it intends to establish an investment and distribution business in Dublin, Ireland.
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.
Victoria Brown has been appointed Managing Director of the new entity, again subject to regulatory approval, and will work alongside Jennifer Richards, Head of Distribution – Ireland. Victoria joined Aberdeen Asset Management as a graduate trainee in 2000 and is currently Head of Regional Management – EMEA having previously lead Aberdeen’s Luxembourg operation. Jennifer joined Standard Life Investments (SLI) in 2004 to lead the Irish distribution team. Jennifer is a Director of a number of SLI funds including Luxembourg SICAVs and Irish Liquidity Funds. Prior to joining SLI, Jennifer worked as an Investment Consultant with Mercer in Dublin and as a Client Portfolio Manager with AIB Investment Managers.
Welcoming the announcement, the Minister for Business, Enterprise and Innovation, Ms. 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. Ireland is now a major player and a very attractive location for Financial Services companies from all over the world. We have the skills and structures to support new projects and to welcome new investors. 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. Today’s announcement that Aberdeen Standard Investments will establish a Dublin based hub is a great vote of confidence in what we have to offer.”
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. It builds on the long-established and successful business that Standard Life Investments already had in the City, serving the needs of pension funds and other clients across Ireland. 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.
“Victoria and Jennifer’s experience, leadership and knowledge of the European marketplace mean they are well placed to launch and develop this important business for Aberdeen Standard Investments.”
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. I wish Aberdeen every success with their future operations.”
Ends
For further information please contact please contact Press Office, D/Business, Enterprise and Innovation press.office@dbei.gov.ie or ph 6312200
Media enquiries:
James Thorneley
+44 (0)20 7463 6323
Notes to editors
- Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
- With over 1,000 investment professionals we manage €638 billion* of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
- We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.
- Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.
*Standard Life AUM/AUA data as at 30 September 2017.
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