How we’ve faired so far—Ireland’s big Brexit wins
With the UK set to leave the EU by April 2019, many businesses have already begun moving their current UK based offices to cities that will remain part of the EU.
US companies looking to expand within the EU have also been looking at cities with a stable EU relationship as a base from which they can grow their businesses and create EMEA headquarters.
During this time many businesses have picked Ireland as their chosen destination. Here are just some of the companies who have chosen to expand in Ireland.
TD Securities is a division of Canada’s largest lender, Toronto-Dominion Bank, which offers a wide range of capital market products and services to corporate, government and institutional clients around the world.
In August 2017 TD Securities announced they would be expanding their office in Dublin through the establishment of a bond-trading unit in the city as part of their growth strategy in Europe. Speaking at the time of the announcement vice-chair and regional head of Europe and Asia-Pacific, Peter Walker, also said the expansion of their Dublin office would give the company a good position for all outcomes of the Brexit negotiations.
The company currently has more than 3,800 employees in 13 offices around the world, with their London base employing 290 people. It is hoped the new Dublin office will employ a further 10 people by January 2018 with a plan to further assess their requirements in the new year.
Kroll Bond Rating Agency
Kroll Bond Rating Agency (KBRA) is a full-service credit rating agency, covering a range of markets including Structured Finance, Aviation, Public Finance, Financial Guaranty, Financial Institutions, Project Finance, Insurance and Corporates.
In September of this year, KBRA chose to expand into the European market, by setting up their EMEA headquarters in Dublin. It is expected this move will create over 100 new jobs for the country in the next three years. This will add to the 275 employees KBRA already have in the US.
This was seen as a Brexit win for Ireland. According to IDA Ireland CEO Martin Shanahan, the announcement showed that Dublin is a viable post-Brexit destination for financial institutions who may have previously chosen London as their EMEA base.
Pinsent Masons is an international globally recognised law firm with offices in Europe, Asia, Africa and the Middle East. The company is currently one of the 100 largest in the world and was named ‘Law Firm of the Year’ by Legal Business magazine and Legal Week magazine.
In June of this year, Pinsent Masons announced they would be establishing an office in Dublin to act as a key global hub. Although plans had already been put in place to open a Dublin office, the move was accelerated in response to the UK’s decision to leave the European Union.
The new office will focus on the financial services and technology sectors targeting work from 50 of Pinsent Masons top 250 clients who are already present in Ireland. It is hoped the new Dublin office will become recognised as an international market leader in the five global sectors in which it specialises. It is also hoped it will bring the total number of Pinsent Masons’ lawyers across Ireland to 12 partners and over 50 lawyers.