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Saturday, 20th April 2024 |
| NCB opens London office |
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| NCB has become the first Irish stockbroking firm to establish an institutional presence in the London market. NCB head of equities Tommy Conway said the company was taking advantage of the opportunity to establish itself as an Irish broker with a European perspective. The London branch will be responsible for producing research coverage of the key FTSE 100 sectors and stocks. This research will be made available to the member firms of European Securities Network (ESN) and their domestic continental clients as well as selling to the UK. |
In 2004, NCB became the UK member of of the European Securities Network (ESN), a network of independent securities firms across Europe. Tommy Conway, head of equities with NCB, says that the firm saw this, ‘as an exciting opportunity to broaden our product offering and firmly establish NCB as an Irish broker with a European perspective. We believed that having a presence in the UK market would provide us with a unique offering in terms of both institutional and corporate clients’. Jonathan Cooke, a former head of UK equity sales at DrKW in London is to head up the office.
 | | NCB opens London office |
According to Conway, the London branch will initially be responsible for producing research coverage of the key FTSE 100 sectors and stocks. This research will be made available to the member firms of ESN and their domestic continental clients. In addition, Conway says that the London branch will sell ESN’s pan-European research product to the UK institutional client base. The London branch will concentrate on research and sales.
Order execution, settlement and support services will be provided by NCB’s Dublin head office. NCB’s plan is to increase the numbers working in the London office from the current eight to between 12 and 15, when the offices becomes fully operational later in the year. In due course, NCB also plans to have a dedicated corporate finance presence on the ground in London to support its growing presence in this market. NCB is also involved in the forthcoming launch of an Irish Exchange Traded Fund (ETF), that will track an Irish equity market index on the Irish Stock Exchange. The launch is due to take place during the first quarter. |
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| Article appeared in the February 2005 issue.
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