Irish stockbroker NCB yesterday rebranded itself by taking the name of its South African parent company Investec. This follows on from the acquisition of NCB by the Investec Group for €32 million in 2012.
Over the next two months all 120 NCB staff based in the IFSC will move to Investec’s head office in Harcourt Building in Dublin.
An additional 10 London-based Investec staff will join the Irish operation to strengthen its corporate lending operation here. This will bring the total number of Investec staff based in Ireland to 230.
Investec has had a presence in Ireland for 13 years, and focuses on private banking and wealth and investment banking for a domestic and international client base.
It is quoted on the Johannesburg and London stock markets.
Founded by Dermot Desmond in the 1980s, NCB has about €1.8 billion of private client funds under management. It was part-owned by Northern Ireland-born businessman Seán Quinn until the collapse of his business empire in the past three years.
Investec’s chief executive in Ireland Michael Cullen said NCB’s move to its offices was a “logical stage” in the integration of the businesses.
