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Standard Life eyes Dublin hub post-Brexit

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Standard Life chairman Gerry Grimstone says the firm is eyeing Dublin as its new European Union hub and argues London is going to become a smaller financial centre after Brexit.

Standard Life currently has an Irish branch, but would upgrade this to a subsidiary, Grimstone told Bloomberg.

The firm would then make its German business a branch of the Irish business so that it could continue to do business with its 500,000 clients in Austria, Germany and Ireland.

Grimstone says: “All of us are preparing road maps like that.”

He says the City will suffer from less European business following Brexit, but that will be partially offset by more business with India and China.

He adds: “I will confidently say that London is likely to be smaller as a financial centre and that’s no secret.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. There are so many plans afoot at present and the feeling one gets from Brussels is what many expected – the UK is going to have a tough time.

    So one wonders who will be left in the UK (If it still is the UK) by the time the deals are struck?

    Last one left, please turn out the light.

    All this as a result of a Cat fight in the Tory party, as the Dutch guy said.

  2. Brexit supporter 7th April 2017 at 1:08 pm

    is Mr Grimstone presenting the views of Standard Life’s investors, or Scotland?
    I learnt a long time ago that when you get what you want, you want to be sure that you want what you get.
    Does he really think that people in the rest of the UK would view such an action positively as my experience when dealing with their Dublin office is that they have been overly bureaucratic and domineering (which sounds familiar to another organisation that I am sick of).
    At this rate I am beginning to think that the rest of the UK should have a referendum on whether Scotland should remain part of the UK!
    I am also beginning to question whether we still live in a democracy at all.

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