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Battle begins at Bank of Ireland to bag bonus-eligible jobs at Davy

Bank of Ireland to buy bulk of Davy Stockbrokers

3 Min Read DUBLIN (Reuters) - Bank of Ireland agreed to buy most of Davy Stockbrokers for an enterprise value of 440 million euros ($518 million) on Thursday, four months after a record central bank fine forced Ireland’s largest stockbroker to put itself up for sale. An inquiry into 16 staff members at Ireland’s largest stockbroker found they sought to profit in 2014 by taking the opposite side of a bond deal with a client, without telling the client or compliance officials. Davy was fined 4.1 million euros by Ireland’s central bank in March for breaching market rules and was dropped as a primary dealer in Irish government bonds amid a public outcry, leading to the closure of its bond desk.

Five former Davy executives involved in bond controversy to net €180m from sale

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UPDATE 1-Bank of Ireland to buy bulk of Davy Stockbrokers

UPDATE 1-Bank of Ireland to buy bulk of Davy Stockbrokers
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