Business drain hits Dublin as UK providers look elsewhere for cheaper structured products

Dublin is losing UK structured product business as providers find alternative domiciles that are cheaper and quicker. That is the conclusion of research by Arete Consulting, which found that in 2003, 65 out of 168 structured UK Isa products were launched via Dublin, against 47 out of 65 in 2002. By contrast, last year 74 Isa products were structured using medium-term notes (MTNs), while most of the rest came from Jersey and Guernsey. Robert Benson, founder of Arete, said the MTN is becoming more popular as it is cheaper than Dublin and so favours smaller market tranche sizes. He added t...