| 15.6°C Dublin

Goodbody may be sold

Speculation is growing that the European Commission is investigating the sale of Goodbody Stockbrokers as part of the restructuring plan for Allied Irish Banks (AIB).

In the move, the bank would no longer have to hold a pool of capital against the brokerage, but it could mean the loss of jobs at the group.

AIB acquired the brokerage in 1990, when it was then named Goodbody James Capel, in a reported £20m-plus (€25.4bn) deal.

At the time, the firm was 65pc-owned by its management, with the remainder in the hands of London brokers James Capel.