Rathbones secures Irish licence as it eyes Europe expansion
Rathbones has secured a financial licence allowing it to begin operating in Ireland and the EU, as the wealth manager looks to extend its reach across Europe.
The firm was granted a Markets in Financial Instruments Directive (MiFID) licence from the Central Bank of Ireland, which enables it to serve new and existing clients in both Ireland and the EU.
Rathbones will do so through its Dublin-based European entity, Rathbones Ireland.
The licence part of a concerted push to bolster its presence in Europe, the wealth manager said, noting clients are carrying their wealth beyond “national borders”.
“Careers, families, businesses and investments increasingly span several countries, and wealth management has to move with them,” said Camilla Stowell, chief executive of wealth at Rathbones.
“Securing our Irish licence is therefore central to what we do. It gives Rathbones a firm base from which to support clients in Ireland and across the EU, combining local presence with the investment expertise.”
Ireland’s EU reach
Rathbones Ireland is led by managing director Dolores Geaney, who was hired in April to establish the group’s European business.
Geaney hailed Ireland as a “natural home” for Rathbone’s pivot into Europe, noting the country’s links with the EU and internationally connected financial market.
Geaney said: “Our focus now is to build a distinctive, client-led business from Dublin, working with clients, advisers and partners who need thoughtful investment management and long-term support across increasingly international lives.”
Ireland has emerged as one of Europe’s eminent financial hubs in recent years, after an influx of global and UK banking groups established operations in Dublin post-Brexit in order to serve EU clients and capitalise on the city’s thriving technology sector.
Evelyn Partners, Aviva, Royal London and Blackrock all have a footprint in the Irish capital.
Rathbones’ expansion across the Irish sea also follows a wave of business owners leaving the UK against a backdrop of rising wealth taxes and a pedestrian economy.
According to the wealth manager, nearly 6,000 high-growth entrepreneurs have left the country between 2024 and 2026. In contrast, just 3,000 opted to move over to the UK.