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

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.

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4 Comments
    Install the app to use these features.
    Mute garCPD
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    Jan 27th 2012, 12:48 PM

    Job losses on the way so…..

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    Mute Alan Mc Menamin
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    Jan 27th 2012, 1:05 PM

    best to hold fire on this, & hope that no jobs are lost.

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    Mute HELLO SPRUIKER
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    Jan 27th 2012, 2:26 PM

    The Man From Gibraltar?

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    Mute fitszpatrick
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    Jan 27th 2012, 8:46 PM

    Maybe dermot could loan his 32 million to the Glasgow rangers? Surely a sound investment

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