Two thirds of global asset management leaders say they intend to relocate more business to Ireland in the years ahead.
That is according to a survey of over 150 global and Irish fund managers who took part in a PwC webcast on the asset management industry last month.
The jobs potential for Ireland is estimated to be in the region of 6,000 posts.
170 asset management firms and companies that operate in the financial technology (FinTech) sector have chosen to move some or all of their operations here over recent years.
The asset management industry caters for high net-worth individuals, government entities, corporations and financial intermediaries, managing their investments while mitigating risk.
The refinancing of the global economic system in a post-pandemic world is expected to benefit the industry.
The formal departure of Britain from the EU customs union and single market in the coming weeks is also seen as a boon to other European financial centres, especially Dublin.
"There's significant growth opportunities for asset management and fintech firms in Ireland," Andrew O'Callaghan, PwC Asset Management Partner, said.
"The advantages are clear. A highly talented individuals having deep industry knowledge, well established regional hubs, continued access to the EU market and a similar common law jurisdiction as the UK with the benefits of the Common Travel Area between the two jurisdictions," he stated.
David Clarke, Policy Director and founder of the Scottish-Irish Finance Initiative, told the webinar that Ireland should position itself to become a bridge to Europe in a post-Brexit environment, serving UK, US and Asian investors.
"The Irish Government should embrace the important role of representing the fund management industry in Europe. Both Ireland and the industry will prosper if the Government can incentivise asset managers to develop their core functions here," Mr Clarke said.
