| GlobeOp expands in Dublin to meet onshoring demand |
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GLOBEOP Financial Services has expanded its Dublin operation due to increased demand for European funds and from global funds extending into Europe to ensure access to European investors in light of new regulations, such as the AIFMD, that are due to come into force. As part of the firm's expansion in Dublin the company has relocated to offices in La Touche House in the IFSC.
'We've relocated and expanded our facilities to serve increased demand from funds based in or extending into Europe. We see continued European market growth in areas where we offer specialist expertise and can leverage our global technology platform - such as large complex portfolios and fund of managed account platforms. Europe is becoming a key onshore regulated market as more funds prepare to re-domicile there to access investors,' said Vernon Barback, president and chief operating officer of GlobeOp Financial Services.
The firm currently employs 20 people in Ireland and the size of any further expansion will be decided once the full extent of new European regulations are known said Barback. 'We've initially moved our team of just over 20 people to the IFSC offices, and will be growing from there. Future requirements will be determined by customer and market demand as European regulations are finalised. As more funds prepare to re-domicile in Europe to access investors there, we will be able to offer them the quality and scope of sophisticated services they experience offshore' |
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