Baillie Gifford names Irish capital as post-Brexit office

Baillie Gifford has disclosed that Dublin is to be the location for its European subsidiary post-Brexit.

The Edinburgh-based wealth management firm, which has £193bn of assets under management, said it has been exploring various options to allow it to keep serving its European clients once the UK leaves the European Union.

Baillie Gifford did not reveal how many staff will move to Dublin or be hired there, but stressed Edinburgh will remain the company’s main decision-making centre and base for the majority of its 1,047 strong workforce.

The firm, which already has offices in London, New York and Hong Kong, explained that staff in Dublin would oversee investment, dealing, audit, risk and technology.

Baillie Gifford joint senior partner Andrew Telfer said: “Baillie Gifford has seen growing demand from clients from across Europe. We are committed to servicing our existing EU-based clients, as well as expanding further. We have been exploring various options to allow us to continue this development ahead of the UK’s planned exit from the EU.

“Baillie Gifford has decided to establish a European office in the form of a new EU subsidiary company domiciled in Dublin, subject to authorisation from the Central Bank of Ireland, with the relevant regulatory and business licences.”

The Central Bank of Ireland is yet to grant authorisation for the new office.