Tuesday 20 March 2018

Investec says goodbye to Johnny Sexton

Michael Cullen's bank Investec is parting company with Irish outhalf Johnny Sexton.

Bank of Ireland sponsors Leinster and with Sexton returning to the RDS next season, it would have caused a conflict between Investec and BoI.

"We were hopeful of continuing with him when we came home and we'd an option to extend," Cullen told me.

But the overlap between banks made it undo-able and "unfortunately" Sexton and Investec will separate.

The player has been terrific for Investec and the relationship goes back to his school days when the bank sponsored St Marys.

Sexton was rolled out in front of clients at the Intercontinental Hotel last Wednesday and "the place was packed".

Sexton has also been a long-standing client of NCB, which was bought by Investec in 2012 for €32m.

"We tried to sponsor him before," Cullen said, but the deal didn't pan out.

"But when he went to Racing Metro it was a no-brainer," he added.

BoI controls the rugby sponsorships market, tying up Munster, Leinster and Ulster.

A banking monopoly? Perish the thought.

Sunday Indo Business

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