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Tony Garry to step down as chief executive of Davy

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Tony Garry to step down

Tony Garry to step down

Tony Garry to step down

Davy Stockbrokers has named Brian McKiernan as its next chief executive. He will take over from Tony Garry (63) who is stepping down as chief executive in 2015 after 20 years.

Davy is the country's biggest brokerage business.

Yesterday, Davy said that Tony Garry had advised the board of the brokerage that he intends to step down as chief executive in March.

He will be replaced by Mr McKiernan (51), who is a member of the senior executive team at Davy and a board member of J&E Davy, where he has worked since 1989.

Mr McKiernan currently heads the private client business which caters to wealthy individuals.

An engineering graduate of University College Dublin, he qualified as a chartered accountant with Arthur Andersen.

"The board is very pleased that the firm's leadership will transition in a very seamless manner from one exceptional leader to another. Davy has been transformed under Tony's steady hand," company chairman Brian Davy said.

"His most notable achievement has been to grow and enhance the business throughout the worst recession in living memory, adding staff, services, new offices in London, Belfast Cork and Galway as well as acquiring three complementary businesses and launching the Davy Select online pension and investment platform."

Tony Garry said he had been fortunate to lead a "truly dynamic team at Davy".

"Brian McKiernan has been a valued friend and colleague for 25 years. He will bring great energy and leadership qualities to his new role and I am certain he will do an exceptional job for Davy and our clients," Mr Garry said

Mr McKiernan said he was "honoured" to be asked to lead Davy. Tony Garry joined Davy in 1979 and was appointed chief executive in 1994.

Irish Independent