Deloitte has expanded its Irish investment management team with the promotion of Matthew Foley to partner.
Foley has been with the firm since October 2003, serving in the audit department. He specialises in the provision of assurance and advisory services to clients in the investment management and insurance sectors, and has worked with both Irish-domiciled companies as well as large multinational financial services groups that use Ireland as a base for passporting their funds.
The prospect of British withdrawal from the European Union could mean the UK loses its Ucits passport, and Ireland has been suggested as a potential replacement domicile for asset management firms that wish to continue exporting funds to the continent. Ireland is currently home to investment funds with assets of over €3 trillion, according to recent Irish Central Bank data.
London-based M&G Investments, the asset management arm of Prudential, has already announced it intends to build a funds business in Dublin, and has begun creating a range of replicated funds in Ireland for European investors.
Deloitte’s investment management team in Ireland consists of over 200 staff, and is led by 14 partners.
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