Smith & Williamson to develop its investment management presence in Dublin

Wednesday, May 11, 2011

An award-winning international investment house is expanding in Dublin, reversing the trend of financial institutions leaving Ireland.  This comes with the announcement that Smith & Williamson Investment Management is to develop its investment management presence in Dublin to cater for private clients, trusts, charities and institutions. 

The firm is one of the largest independently owned private client investment managers in the UK with over €12 billion* of funds under management and advice.  Over a dozen high quality jobs are being created in Dublin.

So far, our investment team has been enhanced by the recruitment of Frank Brennan, Cedric Cruess Callaghan and George Flynn, along with Derek Ryan who will offer pensions and financial planning advice.  The investment and pensions team, which will be operating from early April, will be working alongside experts in tax, trust and accountancy from Smith & Williamson Freaney to enhance and broaden the services for clients.

Smith & Williamson is recognised as one of the UK’s top investment management companies and is a winner of several prestigious awards for its services, including the STEP Private Clients Award for both 2009/10 and 2010/11 and the PAM Award for Investment Performance for Absolute Return Portfolios 2011. The investment management house is part of the Smith & Williamson group which employs about 1,500 people in 11 offices across the UK and Ireland.  The firm was founded in 1881 and has been active in investment management since 1911.  In total, Smith & Williamson expects to employ over seventy staff in Ireland, North and South, within three years.

The Dublin investment management team will be headed by Chris Kenny, a Dublin born financial services executive who has been with Smith & Williamson since 1997.  He has developed plans for the expansion in Ireland  over the past twelve months based on research among existing and potential Irish clients, which has shown a strong demand for independent investment services in Dublin. 

Commenting on the announcement today, Chris said: “The firm has been advising Irish clients on investment issues for a long time and so this is a logical step for us. It is part of a long-term commitment to Ireland. The provision of investment advice alongside tax and financial planning provides a holistic service for clients and their business interests which we believe sets us apart from many others. Our approach focuses on the individual needs of clients and addresses their natural concern to protect assets.”

Chris continues: “The core of our investment service is the management of diversified, bespoke portfolios. We give clients access to global investment opportunities, tempered by local advice and understanding.  I would like to emphasise that we do not have specific products to market, but aim to work with our clients and their families to preserve and grow capital over many years.”

Smith & Williamson also has an office in Belfast, which trades locally as Cunningham Coates Stockbrokers, and is one of Belfast’s oldest financial institutions.

Smith & Williamson’s investment team will be based primarily alongside Smith & Williamson Freaney in Sandyford, Dublin, enabling it to use its specialist services.  The Sandyford location is the head office of Smith & Williamson Freaney, the accountancy practice formed from the merger of the accountancy practice of Smith & Williamson with Oliver Freaney & Co in 2008.  In the UK, Smith & Williamson is among the top ten largest accountancy practices in that jurisdiction and has an international capability in over 100 countries.

Chris added:  “We have confidence in the prospects for the Irish economy, despite the recent atmosphere of financial gloom. We know that Ireland is a driver of SME and entrepreneurial activity producing many outstanding national and international businesses. We know from contact with clients in Ireland that there is strong demand for an impartial investment management service that can provide international  advice to private clients, charities and institutions.”  

Smith & Williamson is a company owned largely by staff and is not affiliated to other financial organisations.

*as at 31.1.11

Recent awards include:

  • PAM Awards 2011: Winner of Investment Performance - Absolute Returns Portfolios
  • Society of Trust & Estate Practitioners Awards 2010/11 and 2010/09:  Investment House of the Year
  • LexisNexis Taxation Awards 2010 – Winners of the Best High Net Worth Team 
  • Investors Chronicle and FT Wealth Management Awards, 2010: Winners of the Best Growth Wealth Manager and the Best Wealth Manager for Inheritance Tax and Succession Planning

Risk warning

Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back in total the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice. Clients should always seek appropriate advice from their financial adviser before committing funds for investment. When investments are made in overseas securities, movements in exchange rates may have an effect on the value of that investment. The effect may be favourable or unfavourable.

Note to editors

Smith & Williamson is an independent professional and financial services group employing around 1,500 people. The group, which dates back over a century, is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group operates from offices in London, Belfast, Birmingham, Bristol, Dublin, Glasgow, Guildford, Salisbury, Southampton and Worcester.

Smith & Williamson Investment Management Limited is part of the Smith & Williamson group.


Smith & Williamson Investment Management Limited
Authorised and regulated by the Financial Services Authority

Smith & Williamson Investment Management,
a trading name of NCL Investments Limited (member of the London Stock Exchange) and Smith & Williamson Investment Management Limited. Both companies are authorised and regulated by the Financial Services Authority.

NCL Investments Limited
A member of the London Stock Exchange
Authorised and regulated by the Financial Services Authority

Smith & Williamson Fund Administration Limited
Authorised and regulated by the Financial Services Authority

Smith & Williamson Financial Services Limited
Authorised and regulated by the Financial Services Authority

Smith & Williamson Freaney is one of Ireland's leading firms of chartered accountants and business advisers. Since its foundation in 1958, the firm has acquired a wealth of experience in the creation of effective business and financial solutions for clients across all sectors. The firm merged with Smith & Williamson, a top ten firm of UK accountants, in June 2008.

Entrepreneurs and owner-managed businesses operating domestically and internationally have benefited from the service provided by Smith & Williamson Freaney’s experts in Financial Planning, Auditing and Advisory Taxation. The firm has guided and assisted many client companies as they grew from inception through rounds of development funding to their current standing. They have a particularly strong track record in providing hands-on support and advice required by owner-managed businesses. Just 20 minutes from Dublin city centre, Smith & Williamson Freaney is based in Sandyford Business Park among some of the leading companies operating in Ireland today including Vodafone, Microsoft and RBS.

Smith & Williamson Freaney Limited is authorised to carry investment business by the Institute of Chartered Accountants in Ireland.  A member firm of Nexia International.