Architas creates team to control €7.5bn in assets in Republic
Brexit uncertainty prompts investor firm to register funds in Dublin
Minister for Finance Paschal Donohoe: all set to speak at Architas’s imminent launch. Photograph: Gareth Chaney Collins
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.
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.
“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.