FundRock opens new Dublin office
FundRock Management Company S.A., a leading independent UCITS Fund Management Company and AIFM (Alternative Investment Fund Manager), has opened its new office in Dublin and has also announced that it plans to hire up to 20 people by the end of 2019. The new office is part of FundRock’s growing presence in three of the major fund centres, namely Luxembourg, Ireland and the UK, as part of wider European expansion plans.
Following the market uncertainty created in the investment management sector post-Brexit, FundRock is opening an Irish office to service their global clients’ needs by offering a value add solution for all their investment management needs in Ireland and across our other European locations..
Revel Wood, CEO of FundRock commented: “The move to Ireland is a crucial part of our long term strategy, and being a client led organisation, we have responded to client demand, to accommodate their needs, especially those looking to move their funds to Ireland. This expansion into Ireland aligns with our ambition to offer service excellence to a global client base by providing a value added solution for all their domestic fund management needs across Europe.
Ross Thomson, Managing Director of the Irish branch stated: “There is a great camaraderie in the Irish fund industry, after being exposed to this over the last two months it really reaffirmed our decision to move into Ireland. FundRock’s long heritage and robust governance services will provide solutions for both funds’ and Directors’ needs resulting from CP86. The expanding market here, shows the strength and quality of the participants in the fund sector and FundRock are proud to be part of this.”
Speaking at the launch, Minister Mary Mitchell O’Connor said: “This is a great win for Ireland and adds to our growing diversity of fund management companies who choose to locate here and enhance our thriving Financial Services sector. The Government has been making strenuous efforts to ensure that we have the right conditions in place in Ireland to attract the knowledge based sectors and initiatives like this one today by FundRock. I’m confident that FundRock will have no difficulty sourcing the skills required for this exciting new facility and I look forward to watching them grow in the coming years.”
Welcoming the announcement Martin Shanahan, CEO, IDA Ireland said: “FundRock is a welcome addition to the growing cluster of companies active in managing and servicing investment funds from Dublin. IDA is working closely with more companies in this area to highlight Ireland’s compelling offering in a post Brexit world.”
FundRock has a long heritage in fund management and governance dating back over 80 years, and has been servicing funds in Ireland since 2012. The opening of the Irish office is a key step in FundRock’s strategy to be the leading independent Fund Management Company in Europe, building on robust infrastructure, connectivity through its strong network of partners and distributors and deep expertise established over 13 years in Luxembourg.