Friday 9 December 2016

Takeover of PNC Global complete

FINANCE

Published 02/07/2010 | 05:00

IRELAND is now home to the third largest alternative asset management company in the world after BNY Mellon's takeover of PNC Global Investment Services was completed yesterday.

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Some 500 Dublin workers will transfer from PNC to BNY, giving the enlarged BNY a workforce of more than 1,700. "The transfer will create a number of natural synergies in the business here, immediately doubling BNY Mellon's European alternative assets under administration and making our Irish business the third largest provider of alternative asset servicing globally," said Joe Duffy, country executive for BNY Mellon in Ireland.

Foinse posted loss last year

MEDIA

PADRAIG O'Ceidigh's Moinear Teoranta racked up losses of more than €600,000 in the year immediately before it stopped publishing Irish language newspaper 'Foinse'. Accounts just filed with the Companies' Office show Moinear Teoranta had retained losses of just over €13,000 at the end of last August, against retained profits of almost €620,000 a year earlier. 'Foinse' has been published in the Irish Independent's Wednesday edition since last November.

Comreg publishes its new strategy

TELECOMS

Telecoms watchdog Comreg has published its new strategy document for 2010 to 2012, reaffirming its commitment to ensuring competition and innovation. Comreg said it had identified next generation access and investment as one of the most significant changes in the industry.

Satisfactory year despite challenge

DAIRY

DONEGAL Creameries chairman Geoffrey Vance told its AGM yesterday that 2009 was a satisfactory year in overall business performance in a challenging environment. A resolution was passed to pay a final dividend of 9c per share on August 27 to shareholders on the register on August 6, bringing the total dividend per share to 16c, maintaining the 2008 dividend payment.

Aircoach launch Dalkey service

TRANSPORT

PRIVATE coach operator Aircoach has officially launched a new route from Dalkey to Dublin Airport. Fifteen new jobs have been created as a direct result.

Irish Independent

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