‘More than 35’ UK firms interested in Dublin move

The Government has said the Brexit vote has led to a jump in enquiries from London firms considering opening offices in Dublin, one of a handful of cities trying to draw business away from Britain’s financial centre.

Irish officials said they have had more than 35 concrete enquiries from financial groups looking at setting up a base or expanding in Ireland.

“Post-Brexit, it’s meant a lot more meetings, more phonecalls and a lot more travel. I’m in daily contact with different players in the industry,” said Eoghan Murphy, Junior Minister at the Department of Finance, who is promoting Ireland as a financial centre.

Financial companies based in London are concerned that Britain’s vote to leave the EU will stop them selling products in the bloc.

Ireland is trying to woo companies with the offer of a contracting entity, a legal toehold on the island that could be expanded when Britain leaves the EU, allowing them to keep the same access to the European market.

Businesses are being courted by other centres including Frankfurt and Paris as executives consider alternatives to London. Some, particularly in fund management and insurance, say they are warming to Dublin.

Insurers Admiral and Beazley have said they are considering moving more business to Ireland while the funds arm of insurer Prudential is looking at expanding Dublin operations. n Reuters