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Dublin-based firm Dillon Eustace has expanded its Asian presence by opening a new office in Hong Kong.
The development comes as demand for locally based expertise on European financial and regulatory issues increases.
Corporate partner Paul Moloney has relocated to take the helm. A number of partners will join Moloney on a temporary, sporadic basis.
The intention is to create a full-service Irish law office, with the initial focus being on cross-border tax, structural finance and funds work.
Moloney said that other areas will be dealt with from Ireland, but the firm will look to expand its offering and headcount in the office as time goes on.
The increase in the size of Dillon Eustace’s Asian operations comes in light of the growth in the financial services market in the region, specifically in Hong Kong. The firm has had a base in Tokyo since 2000.
The firm will offer advice to Asian fund managers looking to use Ireland as a location from which to service their funds.
“I’m out here to give those clients real-time access to advice,” said Moloney.
“This new office will facilitate both Asian asset managers with operations in Hong Kong and international managers based there who are looking at developing both Ucits [Undertakings for Collective Investment in Transferable Securities Directives] and non-Ucits products.
“The office will also advise Asian-based companies that are considering international expansion and are looking for a tax efficient onshore jurisdiction as part of their international tax structuring.”
Moloney added that clients will have open access to the firm’s financial services, tax and regulatory experts who can provide comprehensive advice on establishing a presence within Ireland.
Moloney will also service the firm’s Tokyo office until someone is relocated there on a permanent basis.