The group made the announcement on Friday (26 May) as the UK’s asset management industry looks to reassure its clients and investors that it is operationally preparing for the Brexit change.
The industry is particularly keen to reassure its clients in Europe that they will not lose access to products and services currently produced in the UK.
“The decision is part of LGIM’s strategy to ensure it can continue to serve its customers, both in Ireland and across the [EU], after the UK leaves the EU,” the firm said in a statement.
“There is no foreseeable impact on operations and staff in other LGIM locations.”
LGIM’s selection of Dublin as its post-Brexit operational hub is a boon for Dublin, which is battling with tax haven Luxembourg to be the EU base of choice for asset managers.
Recent major decisions include Standard Life’s announcement last week it would focus on Dublin, and M&G Investments’ decision to go for Luxembourg as its main base.
Elsewhere, Legg Mason last month went for Dublin.
