Property developer Paddy Kearney, who sued Davy
Kearney was told just after doing the deal that he could have got a much higher price of 32c in the euro, but by then it was too late. He later sued and the firm settled the case.
Davy was last week fined €4m by the Central Bank over the episode. It was the largest financial penalty ever imposed on an Irish broker.
The Central Bank has not named the 16 people involved in the bond deal, but key players at the firm include some of the leading figures in the financial world in Dublin. Among the luminaries who quit in the days after the fine was imposed was the deputy chairman Kyran McLaughlin, a 75-year-old veteran dealmaker who in the past was described as the “most powerful man in Irish stockbroking”.
A culture of greed : who s who on the Davy gravy train?
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Davy has had a relationship with the National Yacht Club since June 2018, when the firm sponsored the club’s regatta with Irish and British Lions rugby player Paul Wallace on hand for the announcement.
The company sponsors the junior regatta annually and the senior regatta every second year, keeping its brand visible to the club’s 1,000 well-heeled members.
Davy started a three-year sponsorship deal with the NCH in April 2019 as its ‘innovation partner’ in support of the venue’s programming in contemporary music, giving the company an association with a cultural institution that welcomes 330,000 patrons every year.
ICRA Conference Hears of Plans & Challenges for 2021 Sailing Regatta Organisers
7th March 2021
Regatta organisers are poised for the Government s April 5th announcement including July s Volvo Dun Laoghaire Regatta (above)
Credit: Afloat
Key Irish sailing regattas depend on a Government Level Two status being in place this summer in order to proceed, the Irish Cruiser Racer (ICRA) conference heard yesterday.
Over 100 sailors and regatta representatives gathered online to hear the latest regatta news from the East, South and Southwest coasts.
It was a heartening gathering that revealed how much clubs had achieved despite all the obstacles thrown up by COVID-19.
ICRA s Dave Cullen struck an optimistic note when he noted this weekend s reduction in pandemic numbers and advances in the vaccine roll-out, while each of the regatta organisers who joined the conference via Zoom were bullish about plans yet also spoke of the current challenging situation.
National Yacht Club Seeks Expressions of Interest for U25 J80 Squad
7th March 2021
File image of the National Yacht Club in Dun Laoghaire Harbour
Credit: Afloat.ie
The National Yacht Club is seeking expressions of interest from all members aged 16 to 25, regardless of class or experience, in the prospect of forming an U25 J80 squad.
The rough plan is for a five-person team (with one or two subs) who will campaign a J80 this summer, pandemic restrictions allowing, with weekly training and racing at the J80 Nationals, ICRAs and Volvo Dun Laoghaire Regatta.
For more details on the team, the selection process and the submission form, see the NYC website HERE.
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