Boston-based asset manager Eaton Vance is expanding its global reach with a new office in Dublin, following client demand to establish a continental European presence ahead of Brexit.
Eaton Vance said in a statement that the move aims to provide clients in Europe with increased support and a smooth transition in an uncertain post-Brexit environment.
Veteran Eaton Vance equity portfolio manager, Aidan Farrell, will lead the new Dublin office as CEO and executive director, alongside Stephen Tilson who has been appointed executive director and head of distribution. Tilson currently leads business development for Eaton Vance in Europe.
“As we experience increased client demand across Europe, Eaton Vance is committed to global business integration,” said Farrell. “Opening a Dublin office is part of our efforts to best support our clients in EMEA and across the world.”
The Dublin entity, which is operating under Eaton Vance Global Advisors (EVGA), is regulated by the Central Bank of Ireland as an Undertaking for Collective Investment in Transferable Securities (UCITS).
“By opening this office, we are confident we will be able to provide our European clients a smooth transition to a post-Brexit operating environment,” Tilson added. “We are well positioned to provide business continuity for our clients despite uncertainties caused by Brexit.”
Eaton Vance is the latest investment firm to establish an European entity in Dublin to combat Brexit uncertainty. Standard Life Aberdeen said in February 2018 that it would base its European business in Dublin post-Brexit. Similarly, Legal & General said in May 2018 it would transfer European client funds to a new entity in Dublin.