Irish firm Dillon Eustace has bolstered its Asian practice with an office launch in Hong Kong.

Corporate and M&A partner Paul Moloney will head the office, which opened today (1 September) and will provide European financial and regulatory advice to the firm's existing Asian clients.

The launch marks the Dublin-based firm's third international presence, after it launched in Tokyo in 2000 and New York in 2009.

Moloney said the new office was a result of continuing strong growth in the region's financial services market as well as interest from Asia-based companies in using Ireland as a tax-efficient base for operations.

He said: "Clients will have open access to our financial services, tax and regulatory experts who can provide comprehensive advice to establishing a presence within Ireland."

Managing partner Mark Thorne added: "In recent years the co-operation between the Irish Fund Industry Association and the Securities Association of China has greatly increased the profile of Ireland as an investment destination amongst the Asian funds community."

The news comes as a raft of UK firms including Linklaters, Hogan Lovells, Ashurst and Clifford Chance confirmed plans to ramp up their Asian operations in response to the region's growth potential.