There is another change on the way in the officer class over at Investec.

John Dolan, one of the partners at Investec Ventures, is leaving to become a director at the State-backed Carlyle Cardinal fund.

The move comes just a week after it emerged that the former NCB stockbroker Conor O’Kelly is to step back from his executive role at the bank, although he will remain a non-exec director.

The Carlyle fund is backed with about €125 million of National Pension Reserve Fund cash.

It is due to close soon, with close to €300 million raised so far.

The fund was initiated by the State to funnel money and expertise towards struggling SMEs, including those with balance sheet problems. No shortage there.

The Carlyle fund’s sweetest deal to date was the recent buyout of the chocolate-maker Lily O’Brien’s for a reported €15 million.

Dolan has a pretty impressive track record of making investments judging by his LinkedIn profile.

He is listed as a non-executive director of tech outfit ACMS, which recently raised €23.5 million.

He is also a director of other tech businesses including Helix Health, Fenergo, Gridstore and Britebill.

Looking after chocolates sounds like a lot more fun, however.