- Looking forward to seeing you at The Financial Centres Summit tomorrow
The Financial Centres Summit, Dublin 2017
presented by Finance Dublin
and FSI in Dublin Castle will hear from over 80 speakers on the current vital issues for Ireland's IFS industry on Tuesday October 17th.
Proceedings will start at 8.35 a.m.with the keynote address by Lord Jonathan Hill, former EU Commissioner for financial services who will addres key issues of concern to the Irish IFS industry. Registration begins at 7.30 a.m.
- Editorial: September Issue
How Ireland can lead on tax strategy, from within the EU27
- Fidelity International overhauls fee structure, announces long-term Dublin expansion
October 4th: Fidelity International has adopted an aggressive new pricing strategy in a major overhaul of its fee charges. The company is to adopt and hedge fund-style feee structurte, linking fees to fund performance, and largely abandon its current flat fee structure - the move comes as active managers are coming under pressure from the growth of assets invested in low-cost passive funds and strategies. The investment manager also announced plans to add 250 jobs to its Irish operations as part of its long-term plans.
- XL Group chooses Dublin as preferred location for its EU insurance carrier
September 19th: XL Group, which has been operating in Ireland since 1990, has decided to move its European headquarters to Dublin from London in response to Brexit, joining several other insurers including Chaucer and Royal London in choosing Dublin. The Bermuda-headquartered insurer announced the move following a meeting between CEO Michael McGavick and the Taoiseach Leo Varadkar in Dublin. Regina O'Connor, Head of Government Affairs and Reg. Policy at XLGroup Ltd to speak at FCS2017
on XL's choice of Ireland as post Brexit hub.
- EBA weighs up risk and rewards of Fintech in new Discussion Paper
The European Banking Authority takes a cautious and carefully balanced view in its deliberations on how it should approach FinTech in its latest Discussion Paper.
- 'Massively expanded' enforcement toolkit and 'potentially colossal' fines on the way for data administrators
When the General Data Protection Regulation (EU 2016/679) comes into force on 25 May next the Office of the Data Protection Commissioner will be able to impose for the first time large administrative fines for data protection breaches. Muireann Reedy explains why it will pay to be compliant with the GDPR.
- Moody's upgrades Ireland's rating to A2, citing continued 5% growth rate, and rates Ireland's "Institutional Strength" as “Very High”
September 15th: Moody's upgrade of Ireland's rating to A2, also changes outlook to 'stable from positive'. It cites Brexit as the main downside, but says "Ireland's financial sector stands to benefit from Brexit, with a number of large financial firms announcing relocation plans of some operations to Ireland in the past several months".
- Increased prescriptiveness of CP86 raises the bar for fund management companies
New rules being introduced by the Central Bank of Ireland in just under a year for Irish authorised fund management companies (CP86) clearly outline its expectations and arrangements around the core tenets of governance, compliance and supervision.
- Designer of the world's first ILS blockchain transaction to speak at the Financial Centres Summit, Dublin, October 2017
Cedric Edmonds, director of Solidum Re, whose idea it was to use a blockchain and who was key in the design and the implementation of the ILSBlockchain and surrounding structural mechanics, says an alternative to Euroclear was required as it was becoming increasingly difficult to access Euroclear efficiently for smaller private placement note issues.
- FCS 2017, Dublin Summit Discussion on Aircraft Financing breakthroughs: architects of the new ANPI insurance product to speak
Leslie Kurshan, Leader of Innovative Client Solutions at insurance broker Marsh and Vicky Hartley, Boeing Capital Corporation's Senior Director of Customer Finance for Europe, will address the Financial Centres Summit, Dublin October 2017 on the Aircraft Finance Insurance Consortium Aircraft Non-Payment Insurance (ANPI) product introduced earlier this year.
- Barclays confirms Dublin as its post-Brexit EU banking base
Barclays has confirmed that Ireland will be the location for its post-Brexit EU banking plans having indicated that Dublin would be its chosen location, in the event of a so-called 'hard Brexit' as far back as January. Having recently installed a new CEO at its Irish bank, it described Dublin as a 'natural base' for its EU hub. Barclays Ireland's new chief Kevin Wall will be a speaker at the Financial Centres Summit on October 17th.
- Professor Sir John McCanny, leading cybersecurity authority, to speak at Financial Centres Summit, Dublin, on October 17th
Sir John is head of the UK's Innovation and Knowledge Centre for Cybersecurity, CSIT,at Queens, Belfast, and its academic Principal Investigator. A driving force behind the creation of the Northern Ireland Science Park, a former board member of the Tyndall National Institute at University College Cork he has also founded, and sold, two technology companies based on his research activities. With cybersecurity identified as the top technology area of concern by Ireland's FS industry in the recent Finance Dublin/Deloitte Research Report
, Professor McCanny, will address cybersecurity and financial services themes. He was the only Northern Irish person knighted in the 2017 honours list. For more details: Financial Centres Summit 2017
- Finance Dublin and Deloitte Research Report finds that 40% of Ireland's IFS companies expect Brexit to have a positive impact on headcount, against 7% saying it will cut jobs
The survey, amongst the 500 Companies included in the 2017 Finance Dublin Yearbook, carried out in collaboration with Deloitte also finds that overall employment increased amongst the companies surveyed last year by 4.6 per cent and that Regulation and Supervision issues are the most important concerns.
- Finance Dublin Yearbook 2017 marks the 30th anniversary of the establishment of Ireland's International Financial Services Centre (IFSC) in 1987
The annual Yearbook, now in its 24th edition profiles 579 institutions overall, including 500 companies in the Irish IFS industry; It profiles 38 Market Infrastructures, Industry Representative bodies and public sector agencies, including IDA Ireland and the Departments of Finance and the Taoiseach, the Irish Stock Exchange and the Central Bank of Ireland as well as 41 professional services firms servicing IFS in Ireland.
- Beazley plc confirms expansion of operations in Ireland
12th July 2017: Beazley plc is to establish its European insurance company in Dublin, growing its Irish presence which it had reduced in recent years. Beazley CEO Andrew Horton said 'we have long considered it [Dublin] an attractive potential location from which to develop our European business.' The move reverses the decision by Beazley to scale down its Dublin presence after it moved its head office from Dublin back to London in 2016.
- HSBC's historic Irish connections - from 'Great Architect' to Grand Canal
To mark 30 Years of the IFSC, HSBC Securities Services' Paul Heffernan has traced HSBC's historic Irish connections going back to the late 1880s in Hong Kong, in this article in the 2017 Finance Dublin Yearbook