Rathbones wins Central Bank of Ireland licence to serve EU clients from Dublin

What happened

Rathbones has received a Markets in Financial Instruments Directive (MiFID) licence from the Central Bank of Ireland. According to Private Banker International on 8 October 2026, the authorisation lets its Dublin-based subsidiary, Rathbones Ireland, serve clients in Ireland and elsewhere in the European Union.

The Irish Times reported on 7 October 2026 that the licence covers new and existing clients, and that the firm is reportedly keen to use it to reach UK expatriate networks. The paper also reported that nearly 6,000 high-growth entrepreneurs left the UK between 2024 and 2026.

Rathbones Ireland is led by managing director Dolores Geaney, who joined in April to set up and manage the group's European operations, according to Private Banker International.

The Irish Times said she has 30 years in global financial services, with roles at Davy, Investec and, more recently, Wells Fargo International. Camilla Stowell, chief executive of Rathbones' wealth business, told Private Banker International that securing the Irish licence is central to what the firm does.

Rathbones had £115.6bn in funds under management and advice (client assets it either runs or advises on) at the end of 2025, the Irish Times reported.

The licence follows a UK setback. In June 2026 Rathbones paused onboarding of new clients requiring enhanced due diligence (extra checks on clients seen as higher risk), the Irish Times reported on 16 June. The step followed a review whose scope was set by the Financial Conduct Authority.

The paper said the pause could last up to 12 months, that Rathbones had received £370m from such clients to manage in the previous 12 months, and that the review carried £60m of additional costs over the next two years.

Rathbones is not the only UK name building in Ireland. The Irish Times named RBC Brewin Dolphin, Gresham House and Quilter Cheviot as UK firms that have invested heavily in their Irish units, and said several UK-based firms are launching Irish operations to serve UK clients living across the EU.