DUBLIN, May 26 (Reuters) - British insurer Legal & General will move some of its investment management operations to Ireland as part of its strategy to ensure it can continue to serve its customers after Brexit, it said on Friday.
In a win for Dublin’s campaign to attract firms in the wake of Brexit, L&G’s asset management division, Legal & General Investment Management (LGIM), will move the operations subject to regulatory approval.
It said it foresaw no impact on operations and staff in other LGIM locations. LGIM is one of the biggest investors in the UK stock market.
“This is yet another very important signal to the market that financial services companies can come to Ireland quickly and service their European customers, with minimum disruption to their business,” Martin Shanahan, the head of the Irish state agency that attracts foreign investment, said in a statement.
Reporting by Padraic Halpin; editing by Jason Neely