Aberdeen Standard Investments to establish one of its European business hubs in Dublin, subject to regulatory approval.

The company manages more than €70 billion on behalf of its European customers and clients and already has a hub in Luxembourg.

The new Dublin office will be in addition to that, with both working with the company’s Frankfurt-based offices. 

ASI has appointed Victoria Brown as the Dublin office’s managing director, with Jennifer Richards appointed head of distribution.

The company already employs six people here but this would grow to 20 as part of today’s announcement.

"The Irish hub, which will contract directly with European clients and oversee our European branches, complements our Luxembourg hub which manages funds across Europe," said Gary Marshall, head of EMEA at Aberdeen Standard Investments 

"These two businesses, working together and with our German business based in Frankfurt will ensure that we continue to meet the needs of our customers and clients across Europe, after the UK leaves the European Union."

Minister for Business, Enterprise and Innovation Heather Humphreys described the announcement as "a great win for Ireland" as it seeks to expand the number of financial services companies investing here.

IDA CEO Martin Shanahan said the move was a "notable endorsement for the investment funds industry here".

Aberdeen Standard Investments is a brand of Aberdeen Asset Management and Standard Life Investments, which merged last year.