Company:NCB Group
| Type | Private |
|---|---|
| Industry | Investment Banking |
| Founded | 1981 in Dublin, Ireland |
| Founder | Dermot Desmond[1] |
| Headquarters | Dublin, Ireland |
Number of locations | 2 |
Area served | Worldwide |
| Services | Institutional equities, Corporate finance, Wealth management, Investment funds & Debt securities, Venture capital |
| Website | www.ncb.ie |
NCB Group was an investment bank based in Dublin, Ireland.[2] Founded by Dermot Desmond, NCB firmly established its reputation by sponsoring a yacht NCB Ireland in the 1989 Whitbread Round-the-world yacht race, now the Volvo Ocean Race.[3]
It was taken over by Investec and rebranded in 2013.[4]
History
During the 1980s after Ireland's two biggest banks Allied Irish Banks and Bank of Ireland took interests in stockbroking firms, NCB was sold to Ulster Bank, a subsidiary of National Westminster Bank.[5][6]
After National Westminster was taken over by the Royal Bank of Scotland, NCB was bought out by its management with the assistance of Sean Quinn.[7]
NCB sold its money broking arm to management and employees in 2004.[8][9]
Investors in a fund started by the venture capital arm of NCB, NCB Ventures, realized a 75% return on their investment when the fund closed in 2006.[10]
See also
- Irish Stock Exchange
- Irish Property Bubble
- Volvo Ocean Race
References
- ↑ "FAI can steer clear of Aviva turbulence". October 23, 2011. https://www.independent.ie/sport/soccer/fai-can-steer-clear-of-aviva-turbulence/26784729.html.
- ↑ Ghosh, Palash (February 8, 2011). "Ireland faces bleak recovery: NCB". International Business Times. https://www.ibtimes.com/ireland-faces-bleak-recovery-ncb-264689.
- ↑ O'Coineen, Enda (1990). Sail Ireland: NCB Ireland Challenge in the Whitbread Round the World Race, 1989-90. Kilcullen International. ISBN 978-0-9516662-0-3.
- ↑ Ciarán Hancock (May 15, 2013). "Stockbroker NCB rebrands by taking the name of parent company Investec". The Irish Times. https://www.irishtimes.com/business/financial-services/stockbroker-ncb-rebrands-by-taking-the-name-of-parent-company-investec-1.1393590.
- ↑ "Our Story". Ulster Bank. http://group.ulsterbank.com/about-us/our-history/our-story.ashx.
- ↑ "The Archive Guide - Ulster Bank Ltd". Royal Bank of Scotland. http://www.rbs.com/about03.asp?id=ABOUT_US/OUR_HERITAGE/OUR_ARCHIVES/ONLINE_ARCHIVE_GUIDE/THE_ARCHIVE_GUIDE/ULSTER.
- ↑ Jim Aughney (November 4, 2003). "Quinn Group takes the 20pc Desmond-backed NCB stake". http://www.independent.ie/business/irish/quinn-group-takes-the-20pc-desmondbacked-ncb-stake-194773.html.
- ↑ "NCB sells moneybroking arm". October 23, 2004. http://www.irishexaminer.com/archives/2004/1023/ireland/ncb-sells-moneybroking-arm-573160074.html.
- ↑ Barry O'Halloran (October 23, 2004). "NCB to sell division for over €1m". http://www.irishtimes.com/newspaper/finance/2004/1023/1097847312583.html.
- ↑ Cathal Hanley (September 26, 2005). "NCB venture capital fund to realise 75% return". The Irish Times. http://www.irishtimes.com/newspaper/breaking/2005/0926/breaking46.html.
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