markets

AllianceBernstein to Start Dublin Broker-Dealer in Brexit Shift

AllianceBernstein Holding LP is seeking to set up a broker-dealer operation in Dublin ahead of the U.K.’s exit from the European Union, Chief Executive Officer Seth Bernstein said.

The New York-based asset manager is also investing in its European trading operation and continuing to expand in Asia, Bernstein said on a call with analysts Tuesday discussing quarterly results.

A host of financial firms have been building their presence in cities outside of London, with banks including Morgan Stanley and Citigroup Inc. relocating some roles to offices in Paris and Dublin. Bank of America Corp. had called the Irish city a “preferred location,” while Ireland issued a record number of passports buoyed by demand from citizens living in the U.K.

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