IBI Corporate Finance has created a top management position to deal with the increasing volume of corporate finance work with private companies.

The appointment of Ted Webb to the post of managing director of private companies comes shortly after the appointment of Róisín Brennan as chief executive in the corporate finance unit.

Mr Webb has been with IBI since 1996. He will lead a team focusing on merger and acquisition transaction as well as private equity transactions and deals in the construction and property sector.

"The last number of years have seen significant growth in the number and value of private company deals on which IBI has advised," Ms Brennan said.

"This appointment reflects our determination to grow our position in this market aggressively in the years to come."

Mr Webb will lead a team of 13 in offices in Dublin and Belfast. Before joining IBI, he worked in Ireland, Canada and Britain with the financial services and accounting group KPMG and with the fruit importer Fyffes plc.

He was lead adviser on more than 50 concluded deals for a wide variety of private companies in the last 10 years.