NI civil servant to head up Goodbody

A senior Northern Ireland civil servant is set to head up Goodbody Stockbrokers' Belfast office.

Gerry McGinn will take over Goodbody's Northern Ireland operations, which will be based in Belfast.

The firm is seeking approval from the Financial Services Authority for its plans to open in the North.

Mr McGinn is currently permanent secretary for the Department of Regional Development in the North, equivalent to the Republic's Department of Enterprise, Trade and Employment. Before that, he held the same position in the Department of Education.

Mr McGinn is a former chief executive of Bank of Ireland Banking UK and worked in financial services before joining the North's civil service.

Goodbody already works for a number of Northern Ireland-based companies, including energy group, Viridian and broadcaster UTV, which it has advised on the purchase of a number of radio stations in the Republic.

Last year Andor Technologies hired the firm to act as its Irish broker and another client, Newry-based First Derivatives, intends listing on the Irish Stock Exchange.

Its private clients' business has investment commitments of about €750 million in the North.

Last year, that division joined forces with local builder, Taggart, to purchase sites in Belfast for residential development. The total investment will come to almost €300 million. It intends to develop 265 houses on three sites.

It is also a substantial shareholder in Banbridge Retail Park and bought a substantial land bank .