Hermes IM creates Ireland-domiciled subsidiary to mitigate hard Brexit risk

Appoints head of Ireland from Fidelity International

Hermes Investment Management has appointed Carol Mahon from Fidelity International to head up its newly created Irish-domiciled management company, Hermes Fund Managers Ireland Limited (HFM Ireland), as part of its effort to mitigate the risks created by Brexit.

The group said the move to launch an Ireland-based business was part of its "broader strategic outlook and commercial expansion plans", but is also the result of its preparations for a hard Brexit, which it has been conducting under the Brexit Mitigation Project. HFM Ireland was authorised by the Central Bank of Ireland (CBI) on 11 December 2018 as a UCITS management company and alternative investment fund manager and also has permission to provide individual portfolio management services. Brexit Blog: Financial sector business volumes fall for first time in five years Mahon will j...