City of London investment bank Numis Securities has set up an office in Dublin after obtaining necessary regulatory approval from the Central Bank of Ireland, Irish Times has reported.

The Irish unit, dubbed Numis Europe, is expected to help the firm expand its business across the European Union (EU).

The unit, which is slated to start trading in the final quarter of this year, is said to be part of Numis’ ongoing strategic objective to diversify and internationalise its client-base and revenue streams.

It will act as a strategic gateway for both public and private businesses to access investors spread across the EU.

Numis, which has a footprint in London and New York, aims to offer continued access to European investors for its UK issuer clients via the new unit.

According to the firm, Ireland presence will enable it to be more agile when servicing the increasing number of non-UK equity and debt issuer customers.

In the last year, Numis amassed about 18% of its investment banking revenue from non-UK companies.

These companies included those supporting clients with initial public offerings (IPOs) in the US, Germany, Sweden, Poland and Israel, the report said.

Numis has named its chief executive and head of European Union equities Garret Ward to head the Irish unit.

Ward was quoted as saying: “Our European office will provide greater flexibility and an enhanced capability to target opportunities across the EU.

“Building on Numis’ success to date, we look forward to building stronger connections with clients through our European office and supporting them on their growth ambitions.”