GOODBODY Stockbrokers' head of equities, Mr Roy Barrett, is to become managing director of the AIB owned stockbroking company, following the decision of the current managing director, Mr Peadar O'Shea, to set up his own investment advice company.

Mr O'Shea, who joined Goodbody last year, has set up Equinox Finance, along with two former Morgan Stanley executives, to provide investment services in emerging markets.

Mr Barrett is to combine the managing director's role with his existing position of head of equities. He said that Goodbody had decided to combine the two roles because a new management structure is now in place which has Mr Bruce Ash more as head of equity sales and Mr David Lowe as head of equity research.

In the past year, we made key appointments in gilts, equities and private clients, all three divisions are going smoothly. As head of equities and corporate broking, it was felt that this would fit in with the managing director's position," Mr Barrett yesterday.

Prior to joining Goodbody in 1995 as head of equities, Mr Barrett was a director of NCB where he ran the international equities division. Previously, he worked in London with S.G. Warburg and Paribas Capital Markets.

In common with the other major Irish stockbrokers, Goodbody had a good 1995 performance, boosted by the strength of both domestic and international bond and equity markets. Goodbody also pulled off a major coup during 1995 when it won the mandate to sell the Government's remaining stake in Irish Life this was successfully sold last September for £99 million and the placing of the shares was seen as an outstanding success.