Aberdeen Asset Management plan to launch a private wealth management division in Ireland next month, to serve high net worth individuals.
Pending regulatory approval for the project, Aberdeen hope to capitalise on what they see as being a gap in the market, -Aberdeen beleives it can compete strongly with the banks and stockbrokers currently providing private client services in Ireland, both in terms of fees and expertise.
The unit will initially be established within Aberdeen Asset Management Ireland, but within nine months the aim is to set up a new company called Aberdeen Private Wealth Management Ireland.
Backing up the new venture are two new recruits, Patrick Kilduff, a portfolio manger, previously with ABN AMRO, and Patrick Lawless, also previously of ABN AMRO. More appointments are expected shortly. |
