Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Founder of NCB Stockbrokers Dermot Desmond pictured arriving at the Moriarty Tribunal in 2010 Laura Hutton/Photocall Ireland
Sale

NCB Stockbrokers to be sold for €32m to Investec

The company was founded by financier Dermot Desmond in 1981.

NCB STOCKBROKERS, FOUNDED by financier Dermot Desmond in the 1980s, is to be sold for over €32 million.

The company announced this morning that it has been acquired by Investec, an international specialist bank and asset manager, for €32.3 million.

The deal is subject to regulatory approval.

NCB currently employs 120 people at its IFSC headquarters. The financial services company deals with wealth management, corporate finance, venture capital and investment funds. It has around €1.3 billion of private client funds under management.

The Investec Group has a market capitalisation of over £3.4 billion (€4.07 billion). Investec Ireland, its Irish arm, was set up in 2000 and currently employs over 110 people in Ireland.

“The deal will bring together two like-minded and innovative businesses whose operations are very complementary and whose combined experience and expertise will create real added value,” said Conor O’Kelly, CEO of NCB.

“The NCB business will complement our successful capital markets business in Ireland,” said Michael Cullen, CEO of Investec Ireland.

Taoiseach slammed over ‘people went mad with borrowing’ comments

Your Voice
Readers Comments
4
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.