| Newly independent NCB will strive to do better |
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| Post-MBO, it is business as usual at NCB, but going forward the strategy will be to improve performance. |
After successfully buying out the company from parent Ulster Bank, the management of NCB Stockbrokers’ new philosophy is to broadly do what NCB has been doing to date, but to do it better.
Announced in mid-August, the deal will see almost all of the present management of NCB join forces with executives of Key Capital, a specialist corporate and capital markets advisory group, to take ownership of the company. The deal is expected to close in October, once it receives regulatory approval from IFSRA.
Chairman designate, Conor Killeen, says that once the deal closes, the company’s focus will be very much on existing businesses, and he says that they will be looking to make improvements in all areas.
In equities, which is largely domestic in focus at present, Killeen says that they are keen to further develop the international side of the business, which has been growing quite quickly. With regard to private clients, Killeen says their aim will be to introduce more sophisticated savings products.
On the corporate finance front, Killeen says that NCB will be strengthened through the merger of Key Capital and NCB, adding that the restructured corporate finance department, which will be headed up by Liam Booth, pending regulatory approval, has just gotten its first new appointment, as advisor to the management of IIWP International, the Dublin based manufacturer, who are attempting to launch a management buy-out of the company.
NCB will be able to assess institutional investors’ reaction to the deal in FINANCE’s forthcoming annual stockbroking survey, which will be published in November. |
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| Article appeared in the September 2003 issue.
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