Smith & Williamson, the financial and professional services firm, has today launched a new MiFID-authorised subsidiary as the operating vehicle for its investment and financial planning activities in Ireland.
Smith & Williamson Investment Management (Europe) Limited (SWE), which is regulated by the Central Bank of Ireland, will act as the firm’s European hub of operations, allowing it to provide practical, effective solutions and advice to domestic and international clients.
The new entity will continue to deliver the firm’s core investment proposition in Ireland. As the regulatory environment continues to change apace, this means clients will continue to receive the same high-quality investment management services to which they are accustomed without interruption if the UK leaves the European Union (EU) with no formal deal or a ‘hard’ Brexit.
As part of the move, Smith & Williamson has appointed Chris Johns as the first non-executive chairman of S&W Europe.
Highly regarded in the financial services sector both in Ireland the UK, Chris has more than 30 years’ experience in banking, stockbroking and investment management and is formerly Chief Executive Officer of Bank of Ireland Asset Management. He has also held roles with ABN Amro, State Street Global Advisers and Allied Irish Capital Management and will divide his time between Smith & Williamson offices in Dublin and London.
In addition, Fiona Ross joins S&W Europe as a non-executive director. Fiona has extensive experience at boardroom level having held senior roles in a wide range of major organisations, including as CEO of the National Library of Ireland and as a managing director for financial services companies in Ireland and the US. Her current roles include Chair of CIE Group and Mental Health Ireland.
Smith & Williamson has continued to expand its activities in Ireland since 2008. A merger with leading Dublin-based accountancy firm LHM Casey McGrath in October 2018 doubled the size of its operations and also strengthened the firm’s presence in an important EU territory in advance of Brexit, where it combines a top 10 accountancy business with a market-leading independent investment management operation.
Announcing the move, Cedric Cruess Callaghan, SWE Chief Executive Officer, said: “This is a significant step for our business, recognising the importance of our Irish operations and underlining that the protection of the interests of our existing Irish clients in a post-Brexit world is our prime focus.”
“Within Europe there is considerable competition between member states, international banks and local firms to win market share. Smith & Williamson enjoys a privileged position, given our significant assets under management, our breadth of services and our focus on private clients and their businesses. We believe the combination of accountancy services and investment management provides our clients with a distinct advantage and the firm with a significant competitive edge.”
“We remain confident that our business model and this signal of our long-term commitment represents a successful proposition for Ireland in terms of scale, performance, reputation and the personal service we can provide to our clients.”
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By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of publication.
Notes to editors
Smith & Williamson is an independently owned financial and professional services group. The firm is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices, entrepreneurs and mid-to-large corporates. The group’s c1,700 people operate from a network of twelve offices: London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.
Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back, in total, the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice. Clients should always seek appropriate advice from their financial adviser before committing funds for investment. When investments are made in overseas securities, movements in exchange rates may have an effect on the value of that investment. The effect may be favourable or unfavourable.
Smith & Williamson Holdings Limited
Smith & Williamson LLP
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.
Smith & Williamson Investment Management LLP
Smith & Williamson Investment Management LLP is part of the Smith & Williamson group. Authorised and regulated by the Financial Conduct Authority
Smith & Williamson Investment Services Limited
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
Smith & Williamson Fund Administration Limited
Authorised and regulated by the Financial Conduct Authority
The Financial Conduct Authority does not regulate all of the services referred to above.
Smith & Williamson Investment Management (Europe) Limited
Smith & Williamson Investment Management (Europe) Limited is Regulated by the Central Bank of Ireland