Business Irish

Thursday 25 May 2017

Investec buys NCB for over €32m

Independent.ie reporters

NCB Stockbrokers has been bought up by South African firm Investec.

The stockbroking firm is 25pc owned by Quinn Financial Services while there are another 60 shareholders including staff.

The company was originally founded by financier Dermot Desmond in the 1980s and it employs 120 people.

NCB has about €1.3bn of client funds under management.

""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 NCB CEO Conor O'Kelly.

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