Irish legal investment funds advisory firm Dillon Eustace has opened a new office in Hong Kong as demand for locally-based expertise on European financial and regulatory issues increases.
The expansion builds on the firm’s existing presence in Asia where a Tokyo office has been in place since 2000.
Headed by Paul Moloney (pictured), Dillon Eustace’s Hong Kong office will serve many of Dillon Eustace’s existing Hong Kong – based clients as well as provide an additional point of access for the firm’s existing Chinese, Japanese and South Korean clientele.
The increase in the size of Dillon Eustace’s Asian operations comes in light of the continuing strong growth in the financial services market in Asia generally and Hong Kong specifically. The strength and recognition of both the UCITS brand and Ireland’s position as a pre-eminent domicile of choice for UCITS in Asia and Hong Kong’s position as a leading Asian financial services centre made Hong Kong the natural choice for Dillon Eustace’s expansion in Asia.
“Ireland is one of the premier asset servicing jurisdictions in the world and the Asian interest in using Ireland as a base for operations is very high,” says Mark Thorne, Managing Partner with Dillon Eustace.
“In recent years, the co-operation between the Irish Fund Industry Association (IFIA) and the Securities Association of China has greatly increased the profile of Ireland as an investment destination amongst the Asian funds community.”
“Our decision to expand into Hong Kong is a direct response to the demand we are seeing for our expertise in what is now undoubtedly one of the world’s major financial centres,” says Thorne.
Paul Moloney, Hong Kong Partner, says: “This new office will facilitate both Asian asset managers with operations in Hong Kong and international managers based there who are looking at developing both UCITS and non-UCITS products. The office will also advise Asian-based companies that are considering international expansion and are looking for a tax efficient onshore jurisdiction as part of their international tax structuring.
“Clients will have open access to our financial services, tax and regulatory experts who can provide comprehensive advice on establishing a presence within Ireland.”
“Ireland’s established regulatory and tax system is providing investors with the confidence they need to establish their European operations in Dublin,” said Moloney.
Dillon Eustace’s Hong Kong office will open for business from (TODAY) September 1st, 2011 and is located at 62/F The Center, 99 Queen’s Road Central, Hong Kong.
