- GECAS anticipates 'soft landing' in next leg of aviation cycle
The next downward leg of the aviation cycle is unlikely to be as precipitous as others that have gone before, says Diarmuid Hogan, Executive Vice President and Chief Financial Officer of GE Capital Aviation Services. In this interview with John Stanley in Aviation Finance. He argues that demand for aircraft assets continues to be underpinned by a strong investor demand for long lived, predominantly US dollar funded assets and by airline fundamentals which are much healthier than they were ahead of previous cyclical downturns. He also discusses the potential effect of rising interest rates on the market value of assets and explains why the company expects its variety of activities, including lending to airlines and investors, will help offset any potential decline in the windfall gains it has enjoyed over the last three years from aircraft trading.
- Tom Healy transformed Ireland's Stock Exchange from a venerable domestic institution into a global platform
Tom Healy, the former CEO of the Irish Stock Exchange passed away on Friday April 14th. Born in 1950, the native of Kinnegad Co.Westmeath, was head of the Irish Stock Exchange for 20 years from February 1987 to June 2007. He subsequently served as chief executive of the Abu Dhabi Securities Exchange (ADX), before retiring in 2010. His funeral took place on Tuesday, April 18th.
- Alter Domus opens International Centre of Excellence in Cork
March 30th 2017: Fund and corporate services Alter Domus has opened its second Irish office in Cork, adding 60 jobs to the Luxembourg-based firm's Irish headcount. Alter Domus was established in Ireland in 2011 with its Dublin office experiencing strong activity in aircraft leasing, private equity, real estate and debt. The company says it is also continuing the expansion of its Dublin operations.
- Royal London to use Irish operations for its post-Brexit EU base
March 30th 2017: Insurer Royal London is to use its Irish operations as its EU base and are in the early stages of discussions with the Central Bank of Ireland with regards to its plans. Royal London is the largest financial life, pensions and investments mutual in the UK and Ireland and currently employs 80 people in Ireland where it use EU passporting rules to sell insurance products in Ireland through a network of brokers.
- Limerick's long history and strong potential in financial services explored
March 30th 2017: The potential for further developing Limerick's growing financial services sector was the major theme explored by a panel of experts at a Capital Limerick event held in Dublin where the panel reminded FS decisionmakers of the region's rich history in international financial services which predates the creation of the IFSC. Finance Dublin Comment: Its financial services history indeed extends back to the 13th century, when the minting of coins took place at King John's Castle, as a tour of the now restored complex will show.
- Finance Dublin Deals of the Year 2017 Nominations are announced:
March 28th 2017: There are 159 nominations in deals with disclosed values of over EUR200 billion. There is an increase in the level of deals that combine Irish world-leading sectoral expertise - for instance securitisation and aircraft leasing, along with large global deals in multiple jurisdictions, from Spain to Australia to South Korea. Irrespective of deal size, innovation is evident across the board from this years smallest value disclosed deal (valued at $100,000) to global industry-changing transactions.
- ECB SSM chair Nouy responds to Hayes PQ on concerns that Brexit competition might result in race to the regulatory bottom amongst EU hubs, as 'broker dealer' loophole highlighted
March 24th 2017: The Chair of the ECB's Single Supervisory Mechanism Daniele Nouy confirmed that the SSM is 'watching closely the competition for attracting business as a result of Brexit.MEP', in reply to a question from FG MEP Brian Hayes. Hayes said today: 'It is reassuring to know that the SSM is closely watching the hunt for business arising out of Brexit. If it is the case that financial institutions are being offered the incentives of a light regulatory regime in certain locations, we need the Eurozone watchdog to take a tough stance against this'. Inside, see: video of Brian Hayes Q&A with Daniele Nouy in the Economic and Monetary Affairs Committee
- Legg Mason set to launch UCITS management company in Ireland to add to Brexit options
10th March 2017: Baltimore-Maryland headquartered asset manager Legg Mason is to open a fund management company in Dublin to serve clients in the European Union after Brexit. Legg Mason's portfolio of management companies includes Edinburgh-based Martin Currie. Legg Mason is an active asset manager with over 360 investment professionals amongst its worldwide staff of 3,400. This will add to Legg Mason's AIFM in Dublin, Legg Mason Investments (Ireland) Ltd, which dates originally back to 1997.
- 'If we approach Brexit as a zero sum game, we will have a very difficult and disorderly outcome' - Minister Eoghan Murphy in video with Lord Jonathan Hill
Lord Jonathan Hill, former UK EU Commissioner for Financial Stability, says that while he personally was a 'remainer' 'the thing has happened', and that the Brexit vote was not "an accident or a fluke" and he dismissed outright the idea of a second vote on the issue. Lord Hill is interviewed with the Irish Minister for Financial Services, Eoghan Murphy, in the House of Lords ahead of speaking at a Brexit Briefing in London for over 200 Financial Services sector attendees hosted by Irish law firm Matheson. The interview video can be seen on the Matheson Brexit Forum at Matheson.com, also hosted on the www.financedublin.com homepage (opposite).
- Bankruptcy remote vehicles have a valuable role to play in EU Capital Markets Union and securitisation plans
Gary Palmer CEO of the Irish Debt Securities Association provides an important overview of Ireland's securitisation industry. He also points to an interesting consequence of securitisation companies using trust structures for charitable purposes: "When the Trust has served its specified and limited purpose, it is wound up and when this happens there is usually a small residual left in the trust. With 1,400 such securitisation companies this provides an amount available for distribution and I'd personally prefer this distribution to go to local charities, where it wouldn't if an alternative type of trust was available".
- Legal Tech: Baker McKenzie to headquarter Artificial Intelligence innovation committee in Belfast
The Baker McKenzie AI innovation committee is headquartered in Belfast and has members from Baker & McKenzie offices worldwide. They will address the question of how the firm may offer the legal services using self-learning AI software. One of the first opportunities explored is self-learning software for due diligence which could cut down time spent on DD tasks by 20 to 40%.