Davy Asset Management is looking to expand its product range after opening a second office in London to attract fund manager talent.
The Dublin-based firm has run an asset management division since 2012 and has €3.8bn AUM. It currently runs five different UCITS strategies covering global equities, plus one global bond fund.
Davy AM is now planning to hire further managers in anticipation of expanding its fund range, with no preference on asset class, and ramp up its sales and marketing presence.
Doug Gordon (pictured), head of European distribution at Davy AM, said: "We are looking to go international and the UK is a big target market for us as there is a common language and suitability of products.
Davy AM appoints ex-Fidelity distribution head
"We are on the hunt for new managers and are willing to offer share revenue for the right person. These could be European managers, Asia managers; it depends on the person and their experience. We are also looking to hire further sales and marketing people to work across Europe."
Gordon added the firm could potentially consider an acquisition of another business if it ran funds which interested the company and were a good cultural fit.
We are on the hunt for new managers and are willing to offer share revenue for the right person.
Davy AM has eight global equity fund managers, with recent hires including Jonty Starbuck from T. Rowe Price, Brian Kennedy from Allianz Global Investors and Jeremy Humphries from Schroders. It also has two global fixed income managers and two multi-asset managers.
Its fund range includes the Global Equity Income and Defensive Global Equity Income products, the Discovery Equity fund, which invests in small and mid caps, an Ethical Equity fund and Global Brands Equity vehicle, which are all structured as Dublin UCITS and have a three-year track record.
Gordon said the company is well positioned to benefit if the UK votes to leave the EU, with international firms choosing to be based in Dublin rather than in London. Companies such as Google and Facebook already have offices in Dublin.
"Brexit is playing into our hands. It is a big positive for Ireland. Dublin has the attraction of low corporation tax, a good education system and, being English speaking, it gives a perfect option for US and European fund managers worried about the implications of the referendum."
