The move means that the Irish Funds Industry Association will now have representatives on the ground in New York, Boston, Chicago, Atlanta and London for the first time.
IFIA also plans to roll out a series of other representative offices around the globe over the coming months.
Ken Owens, chairperson of the IFIA, said the Irish funds industry had grown from €1.4trn at the end of 2009 to €1.9trn at the end of last year and the expansion marked a drive to promote Ireland as a fund domicile.
“Opening these representative offices means that we can be on the ground in two of our primary markets to promote Ireland as the jurisdiction of choice for internationally distributed investment funds and be on hand to assist managers looking for the product solutions and expertise Ireland can offer in an ever changing global regulatory landscape,” he said.
Kieran Donoghue, head of international financial services at IDA Ireland, said the venture would promote Ireland as the domicile of choice for international funds.
“The initiative is part of our on-going commitment to the further development of the international financial services sector and to the principle of open innovation set out in our strategy horizon 2020".
