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Wednesday, 17th April 2024
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Gensec expansion eyes London office Back  
Gensec Ireland plans to open a London office by year-end as part of a three stranded expansion measure. the company also plans to recruit 13 staff, expand it product range and move to larger premises in Dublin.
The expansion plans come as the company has beaten its own growth forecasts, and plans to add to current products on offer to clients. Paul Coningsby and Stuart Kirk have both been appointed to the Gensec Ireland senior management team.

Peter O’Dwyer, chief executive officer of Gensec Ireland, said the Irish operation will continue to expand rapidly as Gensec Bank continues to internationalise.

‘Gensec Bank wants to be in a position to service our clients globally and adapt our products to markets comparable with South Africa. Our presence in Dublin affords the Bank the opportunity to offer its products to an international audience and we are strengthening our team to take advantage of the many opportunities we have identified, setting us on our stated path to become a leading international financial engineering and capital markets group.’
Kirk will head up broadening of the Gensec Ireland product range to include the provision of third party treasury services to its international clients.

The plan to open a London office by the end of the year is designed to see further expansion of Gensec Ireland’s services in corporate finance - and the application to open that office is currently with the Irish Central Bank. According to Steve Wood, vice president of Corporate Finance ‘The London office will maintain contacts with our international client base and sources of funding and deal flow. As more South African corporates establish London bases, we will be providing them with UK services to compliment the Irish office.’

Gensec Ireland is a member of the Gensec Bank division of South African insurance giant Sanlam. The company began trading in Ireland in 1999 and offers a range of financial services, including foreign exchange raising, investment management, financial engineering and corporate finance.

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