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In brief

Stockbroker Davy has agreed a deal to buy independent outsourcing firm Trusted Advisor Group.

Trusted Advisor Group was established by Paul Sutton in 2011 and provides outsourcing services to independent financial advisory firms in compliance, research, marketing, IT and business development.

Trusted Advisor will become part of a new division within Davy focused on financial brokers and intermediaries.

Davy Group is Ireland's biggest provider of wealth management, asset management, capital markets and financial advisory services.

Apple outsells rivals

Apple sold more smart-phones globally in the fourth quarter than any of its rivals after overtaking Samsung for the first time since 2011, according to research firm Gartner.

Apple sold 74,832 smartphones to end users worldwide, ahead of the 73,032 phones sold by Samsung, according to Gartner's report.

The success of big-screen iPhone 6 and 6 Plus drove Apple's sales in its first quarter ended December 27. Apple reported a profit of $18bn for the period, the biggest ever reported by a public company.

Greek investments

The European Bank for Reconstruction and Development (EBRD) will launch a five-year program of loans and investments in Greece that EU governments hope can foster enterprise and growth to help revive an economy hobbled by debt.

Yesterday's move is not directly related to international loan programmes that have bailed out the Greek state.

But the head of the EBRD said big Eurozone creditors thought his bank's support for private enterprise could encourage the kind of market reform they want the new government in Athens to focus on.

Trader broke rules

The Bank of England's former chief foreign exchange dealer broke internal rules on confidentiality and IT technology policy before his dismissal last year, BoE Governor Mark Carney told legislators yesterday.

The BoE fired Martin Mallett in November as it announced findings of an independent review into what staff knew of attempts to manipulate currency rates.

Irish Independent