Custodians and fund administrators are bracing for an influx of asset managers to launch new private markets funds in Ireland.
Custodians adopt Proxymity’s real-time proxy voting following post-Brexit shift for Irish securities
The FinTech firm stated many of the major registrars and custodians have adopted the Proxymity platform, representing 96% of Irish equity issuers.
Many investment banks have had to scramble to update their back-office operations in order to prevent a potential spike of failed trades.
The head of BNY Mellon's ETF servicing business has left after more than three years with the bank based in Ireland.
Custodians have been expanding their Ireland footprint and are bolstering services with a focus on private markets and alternatives assets.
The Bill provides greater flexibility for firms to set up private markets funds in Ireland, giving the country a huge boost as it competes with other fund domiciles.
The move will allow Euroclear UK and Ireland (EUI) to continue to settle Irish-domiciled funds and securities once the Brexit transition period ends on 31 December.
Among the swathe of recent appointments, the former head of investor services for Ireland at Citi has joined to lead BNY Mellon's Irish fund services business.
The mandate includes a bundled package across fund administration, depositary and custody on HSBC's growing European ETF servicing platform.
The expansion follows several strategic hires, a recent acquisition, and other investments, including the launch of its fund services businesses in the US and APAC markets.