London City investment and stewardship firm sets up subsidiary management company domiciled in Ireland.

Carol Mahon, formerly chief executive of Fidelity International’s Irish subsidiary, has been recruited to head the new company. It is named HFM Ireland, or in full version Hermes Fund Managers Ireland Limited. The news was picked up by media including Financial News.

Authorised for Ucits

HFM Ireland has been authorised by the Ireland’s Central Bank in December as a Ucits management company and alternative investment fund manager.

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It has permission to provide individual portfolio management services.

Follows firm’s ”mitigation plan”

”This is part of Hermes’ expansion plans in Europe as well as part of the Brexit mitigation plan undertaken after the referendum,” the corporation writes in a press release.

Hermes Investment Management says it manages assets worth 36 billion GBP.

Roles still to be filled at the Irish office includes that of a head of compliance.