The initial reaction of shock and dismay on the ground in Dublin today has already turned to a sentiment of opportunity and growth for the future. To give some context, a comment was made to me this morning by an experienced finance professional, “it’s like y2k all over again”. With a trade deal outlined with our closest geographical neighbour likely in the coming months, the movement of physical goods between nations may remain a constant.
Without a doubt, there will be pain due to the increased levels of uncertainty across the UK, Ireland and beyond today but there is an overwhelming sense that this is another hurdle to overcome; and once the initial jitters are in the past, will further cement Ireland’s position as the go-to location for FDI in Europe.
The IDA and their counterparts across Europe have been circling the City of London in recent months. In the run up to the referendum, Ireland has been pitched as a new home for those looking to export services in the EU, particularly within Banking and Financial Services.
Banking groups with contingency plans in place to move to Dublin following the lead of Credit Suisse will likely switch up a gear. Human capital requirements will follow the movement of financial capital to Dublin, Frankfurt and Paris assuming broader EU exit contagion does not get completely out of control.
For banking, finance and legal professionals considering their options in Dublin at present, with offices in Dublin and London, Aperture Partners is best positioned to guide organisations and individuals making the move west across the Irish Sea.