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Minister Humphreys and IDA Ireland welcomes announcement by Hermes Investment Management

Minister for Enterprise, Business and Innovation and IDA Ireland have welcomed the announcement by Hermes Investment Management, the £36 billion manager, that it has established an Irish domiciled management company, Hermes Fund Managers Ireland Limited (HFM Ireland) in response to the risks posed by Brexit as well as the firm’s broader strategic outlook and commercial expansion plans.

Minister for Business, Enterprise and Innovation, Heather Humphreys TD said “I warmly welcome this news from Hermes Investment Management. This announcement once again shows that Ireland is now a major player and a very attractive location for Financial Services companies from all over the world and today’s announcement from Hermes is a great vote of confidence in what we have to offer.”

Martin Shanahan, CEO of IDA Ireland said: "This announcement by Hermes Investment Management to expand its activities to Dublin is a further endorsement of Ireland’s strong offering to the International Financial Services Sector."

"Ireland's access to the EU's markets and regulatory systems has become increasingly important for Ireland post-Brexit. Companies based in the U.K want to retain a foothold in the EU, and Ireland is the perfect location from which to do this."

Minister of State at the Department of Finance, Michael D’Arcy TD agreed: “I welcome Hermes Investment Management’s announcement and the opening of its new office in Dublin. This announcement points to Ireland’s continued attractiveness for international financial services businesses.”

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