Asset manager Baillie Gifford has chosen Dublin as the location for a new office that will allow it to continue working with a growing number of clients in the European Union, regardless of the terms of the UK’s departure from the bloc.

The Scottish fund house, which has close to £193bn in assets under management, has weighed up several ways of maintaining business as usual and settled on setting up a new operation in the Irish capital, joint senior partner Andrew Telfer said in a statement.