Dillon Eustace, a Dublin-based legal investment funds advisory firm, has opened a new office in Hong Kong as the latest Western law firm to launch in Asia.

Partner Paul Moloney will head up the new venture, moving to Hong Kong from the corporate and taxation departments of Dillon Eustace.

The office, based at 62/F The Center, 99 Queen’s Road Central, will serve many of Dillon Eustace’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 firm said in a statement.

“The strength and recognition of both the UCITS brand and Ireland’s position as a pre-eminent domicile of choice for UCITS in Asia, and Hong Kong’s position as a leading Asian financial services centre made Hong Kong the natural choice for Dillon Eustace’s expansion in Asia,” said the firm.

“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,” said Mark Thorne, managing partner with Dillon Eustace.

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

The expansion builds on the firm’s existing presence in Asia, where a Tokyo office has been in place since 2000, and comes off the back of other peers moving to grab market share in Asia. 

In July, Ogier became the first offshore law firm to launch an office in mainland China, when it opened in Shanghai. To head the office it appointed Kirsty Calvert, a new hire from the China offices of mining firm Rio Tinto.