Irish investment funds and insurance advisory firm Dillon Eustace has added to its presence in Asia with the opening of a new office in Hong Kong as demands from Asian clients for advisory services on European financial and regulatory issues increases.

Dillon Eustace, which has had an office in Tokyo since 2000, has appointed Paul Moloney to head the new Hong Kong office which will serve the law firm’s existing Hong Kong-based clients as well as provide an additional point of access for the firm’s existing Chinese, Japanese and South Korean clientele.

The move comes as demand for UCITS in Asia has intensified, particularly with Ireland as a domicile.  “Ireland is one of the premier asset servicing jurisdictions in the world and the Asian interest in using Ireland as a base for operations is very high,” stated Mark Thorne, managing partner with Dillon Eustace.

“In recent years, the co-operation between the Irish Fund Industry Association (IFIA) and the Securities Association of China has greatly increased the profile of Ireland as an investment destination amongst the Asian funds community.”

The new office will service both Asian asset managers in Hong Kong as well as international managers in the region that are looking at developing UCITS and non-UCITS products.