Tuesday 24 October 2017

Star banker Geoghegan has a mountain to climb

STAR banker Basil Geoghegan is moving upwards and onwards.

The Glenstal old boy is poised to return to banking with Citi where he will serve as a managing director of investment banking in the UK and Ireland.

Geoghegan left investment banking last year to become chief development officer at Acision, a British mobile-data company with many high-profile Irish shareholders.

This followed stints at Goldman Sachs and Deutsche, where he helped the British government to bail out that country's banks and helped the Government here with several privatisations.

But before then, he's attempting to scale Mount Everest. He's climbing in aid of the "Forgotten Irish" campaign, run by Ireland Fund of Great Britain, of which he is chairman and of which Peter Sutherland is chairman.

"It's been an interesting time preparing for the climb: I more or less gave up drinking, I've been training six days a week," Geoghegan says on his blog.

Turning out the lights

JONES Lang LaSalle's former Irish managing director John Mulcahy jumped ship to NAMA, while his successor John Moran has warned that the Irish commercial property sales would grind to a halt following Fine Gael's promise to effectively end upward-only rent reviews.

Perhaps it's no surprise then that Moran says he is about to turn out the lights although there's no need to leave the country quite yet; office buildings managed by Jones Lang LaSalle and LaSalle Investment Management will go dark for an hour at 8.30pm tomorrow to mark Earth Hour and the World Wildlife Fund's annual campaign to encourage commitment to action on climate change. Starting in one city just five years ago, Earth Hour has grown to 4,600 cities and hundreds of millions of people around the world.

Young man in a Rushe

ROBERT Rushe is joining State Street from Bank of Ireland Securities Services, where he was a key member of the team responsible for the creation of Ireland's first ETF product back in 2000.

Still only 34, Rushe will be State Street's head of exchange traded products servicing in Ireland.

Rushe seems to thrive on innovation -- he has also been involved in areas such as fixed-income investments, Shariah funds, emerging-markets funds, synthetic products and multi-currency dealing.

Things can only get better...

MICHAEL Noonan returned to Brussels last week for the first time since the 1980s, for his first meeting of European finance ministers.

Thinking back to those days as he left the recent meeting, the Limerick man was in a reflective mood, noting that the atmosphere was better and much friendlier.

"We're all on first names now. The formality has gone out of it, so it's Michael and Wolfgang and Christine." Happy days.

Irish Independent

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