Saturday 10 November 2018 1:49 pm

Hedge fund Marshall Wace to expand Dublin operation in Brexit contingency plan

Marshall Wace has become the latest investment group to begin putting its post-Brexit contingency plans into action, despite chairman Paul Marshall being a Brexit supporter.

The $35bn manager has received licenses to run management companies in Ireland and plans to increase its presence in Dublin as a protective measure ahead of the UK leaving the EU.

Marshall Wace are one of the biggest hedge funds in the UK and have now been granted licences to run Ucits and AIFM management companies by the Central Bank of Ireland – their financial regulator.

The move means the company can continue to sell investment products across the EU after the UK leaves. 

The company's chairman and chief investment officer, Marshall, is a ardent Brexit supporter and donated £100,000 to the Leave campaign, but the co-founder and chief executive, Ian Wace, supported remain. 

The company have not commented what the increase in their Irish operations involved, but usually an increase in staff present would be required. 

Whether these people are moved from one of their London, Hong Kong or New York offices, or will instead be new hires, remains to be seen. 

Marshall Wace are yet to provide a comment.