Cantor Fitzgerald Ireland taps BofI executive amid plan to double revenues

Cantor Fitzgerald Ireland’s chief executive of less than six months, Gerard Casey, has hired a former senior Bank of Ireland executive and made some senior internal appointments as his puts his stamp on the wealth management and stockbroking firm in a bid to double revenues within five years.

Áine Cornally, who recently stepped down as director of the group change programme in Bank of Ireland’s markets and treasury unit and who previously served as chief operating officer the lender’s corporate banking division, is set to join Cantor Fitzgerald Ireland’s leadership team this week, to take on the role of chief operating officer, subject to Central Bank of Ireland approval. The firm’s previous chief operating officer, Brian Cafferky, stepped down late last year to return to the United States.

Mr Casey has also promoted David Tilson, a former head of markets at Bank of Ireland who was hired by Cantor Fitzgerald Ireland last summer, to the position of head of capital markets as he looks to grow the firm’s bonds and equities trading business, which will focus mainly on trading US stocks for European clients, and a corporate finance offering.

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Cantor Fitzgerald Ireland also rehired a former head of equity research, John Mullane, during the autumn to become its chief investment officer. Mr Mullane worked as an analyst in London with Investec and as a portfolio manager with Canada’s Mackenzie Investments during his nine years outside the firm.

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“There will be further announcements in due course as we promote from within, and hire new talent across wealth, fixed income, equities and corporate finance,” said the company.

Mr Casey, a Tipperary native who spent most of his career working overseas in firms including RBC Capital Markets, Goldman Sachs and Lehman Brothers, joined Cantor Fitzgerald Ireland four years ago and succeeded Ronan Reid as chief executive last August. Mr Reid led the firm after selling Dolmen Securities, a firm he co-founded, to New York-based Cantor Fitzgerald in 2012.

The new chief executive said in an interview in late 2023 that he aims to double the company’s revenues over five years. Revenues totalled €33.7 million in 2022, according to the firm’s most recent set of accounts, which also showed that net profit for the year came to €2.05 million.

Cantor Fitzgerald Ireland has more than €8 billion of assets under management and advice, leaving it as the number four wealth management firm in the country, behind Davy, Irish Life’s Unio unit and Goodbody Stockbrokers.

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