Investor services group IQ-EQ is launching a dedicated funds business in Ireland.
Following the group's authorisation as a funds administrator by the Central Bank of Ireland in December, the new Irish funds business is scheduled to go live on 18 March.
IQ-EQ has been active in the Republic of Ireland for more than 30 years, providing corporate administration and structured finance solutions from its offices in Dublin and Shannon.
In expanding its funds service segment into Ireland, it will transfer several staff from its UK & Ireland cluster, including Belfast-based Eoghan Harney (pictured), who will become Director and Head of Fund Accounting.
In addition, the firm is hiring Gary Palmer, former Chief Executive of the Irish Funds Industry Association, as Chairman and Non-Executive Director.
Justin Partington, IQ-EQ’s Group Head of Funds, commented: “We’re receiving an increasing number of requests from clients and intermediaries for Irish fund administration solutions.
"Large numbers of fund managers have already set up Irish operations, partly in response to Brexit, and many clients looking to set up a Europe-domiciled fund increasingly expect administrators to provide them with both an Irish and Luxembourg option to choose from.”