BlackRock, the world’s
largest investment manager with $5.4 trillion (€4.75 trillion) of assets under
management, is considering Dublin among a shortlist of potential European cities
to set up a post-Brexit EU base.
Sources said that planning
remains at an early stage and that the Republic, where it has almost 70 staff,
is competing against Paris, Frankfurt and Amsterdam. The operation in Dublin is
currently mainly made up of two businesses: providing management services to
Irish-domiciled funds and investment advisory services to the group’s renewable
power fund.
“BlackRock has not made any
decisions yet as we wait until more information becomes available about what
the UK’s exit from the EU will eventually look like,” a spokeswoman for the
group said.
“Given BlackRock’s
experience operating in multiple jurisdictions it remains well placed to meet
its clients’ needs and has commenced efforts to lay the groundwork for our
longer term response. As part of this effort, and in line with our broader
strategy to grow our business in Europe, we are considering several options to
increase our presence in key markets on the Continent.”
Author: Joe
Brennan
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