Business Irish

Thursday 19 October 2017

Former senior Davy executive Smith sets up new financial firm

Acuity Capital Management: new financial firm
Acuity Capital Management: new financial firm
John Mulligan

John Mulligan

Former Davy Stockbrokers senior executive David Smith, who was its head of institutional equities and left the role just last month, has established a new financial firm in Dublin.

He is now a director of Acuity Capital Management, but it's unclear at this stage precisely what financial activities the company will be involved in.

Mr Smith left Davy after 24 years, where he was head of institutional equities.

The stockbroking firm told staff at the time that Mr Smith was leaving to pursue other opportunities. However, it noted that Davy would also be "working closely" with the firm in developing some of those interests. There is no sign yet of Acuity Capital Management having been registered with the Central Bank of Ireland, but the business was only established last week. Mr Smith worked as an analyst in London before joining Davy in 1992. He was eventually one of the four most senior members of the firm.

He had also been tipped to become its chief executive, but the role went last year to Brian McKiernan, who was head of wealth and asset management at Davy.

Mr Smith also retains a stake in Davy, having been part of the management team that bought the business for €350m from Bank of Ireland in 2006.

Irish Independent

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