AllianceBernstein looking to set up Dublin office

US asset manager considering broker-dealer operation ahead of Brexit

AllianceBernstein joins a  list of global financial firms considering Dublin as an expansion location. Photograph: iStock

AllianceBernstein joins a list of global financial firms considering Dublin as an expansion location. Photograph: iStock

 

AllianceBernstein is looking to set up a broker-dealer operation in Dublin ahead of Brexit, chief executive Seth Bernstein said.

The New York-based asset manager is also investing in its European trading operation and continuing to expand in Asia, Mr Bernstein said on a call with analysts on Tuesday discussing quarterly results.

AllianceBernstein has more than $500 billion (€405bn) under management and already operates in 22 countries.

A host of financial firms have been building their presence in cities outside London, with banks including Morgan Stanley and Citigroup relocating some roles to offices in Dublin and Paris.

Bank of America has called Dublin a “preferred location”. – Bloomberg