Investment firm to expand in Dublin

International investment house Smith & Williamson has announced plans to expand its operations in Ireland.

Smith & Williamson said it intended to develop its investment management presence in Dublin to cater for private clients, trusts, charities and institutions.

The firm currently has an office in Sandyford - Smith & Williamson Freaney - which provides tax and business advice. It was established following a merger with Dublin accountancy firm Oliver Freaney, known for its work for Dunnes Stores, in 2008.

The expansion of the business to include an investment and pensions section is expected to create more than a dozen jobs.

Dublin born financial services executive Chris Kenny will head the Dublin the investment business, which is to begin operating here next month.

“We have confidence in the prospects for the Irish economy, despite the recent atmosphere of financial gloom,” Mr Kenny said.

“We know that Ireland is a driver of SME and entrepreneurial activity producing many outstanding national and international businesses.”

Smith & Williamson has more than €12 billion of funds under management in the UK. It has an office in Belfast, which trades as Cunningham Coates Stockbrokers.