I have today tendered my resignation as Joint Chief Executive of Davy Stockbrokers and have also resigned from the Board of the Company. I will remain an employee of the Company.

I have taken this decision because it has come to my attention that a number of my personal papers from the 1980s have been distributed to the media and other parties. This has resulted in my being invited to meet the Moriarty tribunal in relation to the John Furze document, which I confirmed to them I did not write.

It has now come to my attention that other documents were also circulated to the media. These included details of the establishment by me of a family trust for the benefit of my children, contributions to which were out of after-tax income. I am in contact with the Revenue to resolve outstanding tax issues, if any, which may have arisen from this arrangement or any other matters.

While these issues remain unresolved I believe I have taken the appropriate course of action.