Aberdeen Standard Investments (ASI) has picked Dublin as the new hub for its investment and distribution activities in Europe.

The fund manager, which oversees more than €70bn for clients in Europe excluding UK, said that the new hub will oversee its investment management services in Europe and manage its offices across the continent. The move is subject to regulatory approval.

The firm’s head of regional management for EMEA Victoria Brown will serve as managing director of the new hub. She will be supported by head of distribution for Ireland Jennifer Richards.

ASI head of EMEA Gary Marshall said: “The establishment of our investment and distribution business in Dublin is part of a global strategy of deepening our local footprint in the regions around the world in which we operate. It builds on the long-established and successful business that Standard Life Investments already had in the City, serving the needs of pension funds and other clients across Ireland.

“The Irish hub, which will contract directly with European clients and oversee our European branches, complements our Luxembourg hub which manages funds across Europe. These two businesses, working together and with our German business based in Frankfurt will ensure that we continue to meet the needs of our customers and clients across Europe, after the UK leaves the European Union.”