The $464 billion fund manager Columbia Threadneedle Investments is planning to permanently locate investment staff on the ground in mainland Europe for the first time as a result of the UK's vote in favour of leaving the European Union.

Columbia Threadneedle is looking to "establish an asset management presence in Europe" in the wake of the UK's vote to leave the European Union, a day after M&G Investments said it was weighing up expanding its operations in Dublin.