FINANCIER DEREK Quinlan has resigned as director of Quinlan Private, the property investment firm he founded more than 20 years ago.

It was signalled last summer that Mr Quinlan would step down as chairman and partner of the company, but no mention was made at that stage of resigning his directorship.

Filings received by the Companies Office this week show that Mr Quinlan’s resignation as director of Quinlan Private and associated company Quinlan Capital Partners took effect at the end of November last. The remaining directors at Quinlan Private are its four partners, Olan Cremin, Peter Donnelly, Thomas Dowd and Mark O’Donnell.

Mr Quinlan’s decision in July to depart as chairman came as a surprise, particularly since he was and remains a significant investor in many of the firm’s projects.

Quinlan Private has typically been involved in large-scale syndicated property investments that attract the very wealthy. Among its early high-profile projects was the €1.1 billion purchase of the Savoy hotel group in 2004.

Like most other property interests, some of the group’s investments have come under pressure, leading to calls for syndicate members to advance new cash for refinancing purposes.

It is possible that some loans related to Quinlan projects will be moved to Nama when it becomes active next month. A spokeswoman for Quinlan Private said Mr Quinlan retained an interest in certain investments managed by the firm.