26th May 2017
IDA Ireland welcomes Legal & General Investment Management's (LGIM) decision to choose Ireland, subject to regulatory approval, for part of their investment management operations. The decision is part of LGIM’s strategy to ensure it can continue to serve its customers, both in Ireland and across the EU, after the UK leaves the European Union.
Established in 1836, Legal & General Group is a leading provider of insurance, savings and investment management products, and headquartered in London. LGIM is a top 10 global asset manager with assets under management of €1tn (at 31 December 2016).
Minister for Jobs, Enterprise and Innovation, Mary Mitchell O'Connor TD said "This decision by Legal and General to establish this operation in Dublin is very welcome news and illustrates the strength of Ireland's position in attracting significant companies in the Financial Services Sector. The Government has been making strenuous efforts to ensure that we have the right conditions in place in Ireland, especially regarding skills availability, to attract the knowledge based sectors and announcements like this one today are a vindication of these efforts. We represent a very attractive base in the Eurozone for these companies and we will continue to pursue new investors in this sector".
Following today’s Board decision, Eoghan Murphy TD, Minister of State for Financial Services noted: “Today’s decision reflects the increasing importance of Ireland as a gateway for the Single Market. Legal & General, one of Europe’s largest asset managers and a major global investor, will be a welcome addition to Ireland’s thriving Asset Management community. I look forward to working with Legal & General to advance the Government’s IFS 2020 strategic ambition to position Ireland as the location of choice for specialisation and innovation in Financial Services.”
Martin Shanahan, CEO IDA Ireland said: “We are delighted that Legal and General’s Board has chosen Ireland as a place to service their European Union customers. This is yet another very important signal to the market that financial services companies can come to Ireland quickly and service their European customers, with minimum disruption to their business.
“This is another vote of confidence in Ireland and its expanding international financial services sector, and shows that our track record, pro-business environment, highly skilled talented workforce and an unwavering commitment to the European single market continues to appeal to investors.”
“Ireland has the right mix of regulation, skills, experience and office space to make us a very logical place for financial services to locate.”
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For further information, please contact:
Press Office, Department of Jobs, Enterprise and Innovation ph. 6312200 or press.office@djei.ie
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