TD Securities Grows Dublin Presence

Dublin will gain another Brexit refugee as TD Securities has selected the Irish capital to be the new home of the bank’s new bond-trading business.

Still subject to approval by regulators, TD Securities is already fully licensed to operate in Dublin and has two full-time employees based in the city. The firm plans to increase that number to 10 employees by the start of 2018, Bloomberg reports.

Dublin quickly is becoming one of the most popular destinations for financial firms to locate their EU operations in preparation for Brexit. Ireland shares a common language with the UK as well as similar market regulations and low corporate taxes.

TD Securities joins more than a dozen other banks that have announced moving part of their London-based operations to Dublin. J.P. Morgan, which already has 500 employees in the city, reportedly plans to construct a 22-story building south of the river Liffey.

“This is a great win for Ireland as we seek to deepen and expand the range of financial-services companies who are investing in Ireland,” said Irish Prime Minister Leo Varadkar in a prepared statement as he was concluding a trade mission in Toronto. “As we face the challenges of Brexit, we are determined to pursue and seize new opportunities and investment projects from key companies worldwide.”