Investment firm AllianceBernstein, which has $806 billion in assets under management, formally announced the opening of an office in Dublin, Ireland, from where it will conduct compliance operations and run a regional project management office.
Operating on a MiFID licence, the office is located on Fitzwilliam Square, in the heart of Dublin’s Georgian quarters and the firm appointed Phelim Keogan as country head of the office.
The expansion is part of the firm’s strategic plan to grow and strengthen its portfolio management presence across the EU. Keogan will oversee the activities of a specialist team based in the Dublin office. The team in Dublin will provide compliance, risk and investment oversight for its portfolio management services in AB offices across the EU as well as a project management office for the wider Emea region.
Ian Foster, chief operating officer for Emea region at the firm, said: “We made the decision to set up a new entity in Ireland, to facilitate portfolio management activity across the European Union (EU). The team in Ireland will complement our already strong distribution presence across the EU.
“With its close ties with both the US and the UK, a familiar regulatory environment, strong business infrastructure and strong cultural fit, Ireland provides an ideal environment for AB to expand its portfolio management operations across the EU.”
Honor Solomon, CEO of Emea a, AllianceBernstein, added: “This marks a significant milestone for AB, we are thrilled to gain our MiFID licence to allow further portfolio management across the EU. As we expand our global footprint, we remain steadfast in our commitment to delivering exceptional value to our clients, with local portfolio management expertise.”
