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Report: Aberdeen Standard Investments to establish new EU base in Dublin

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Report: Aberdeen Standard Investments to establish new EU base in Dublin

Aberdeen Standard Investments plans to establish a new base in Dublin, City A.M. reported, citing the asset manager's head of Europe, the Middle East and Africa, Gary Marshall.

"The establishment of our business in Dublin is part of a global strategy of deepening our local footprint in the regions around the world in which we operate," Marshall reportedly said.

The new base is subject to regulatory approval. However, it is expected to work alongside the asset manager's Luxembourg hub, the newspaper said in its Feb. 25 report.

"These two businesses [Luxembourg and Dublin], 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 EU," Marshall added.

Standard Life Aberdeen Plc's decision to sell its insurance business to British insurer Phoenix Group Holdings for approximately £3.24 billion resulted in the need for a new hub within the EU, City A.M. reported.