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Davy's review; a new forestry venture; the loneliness of chief executives


The board of stockbroking firm
Davy is expected to examine whether other cases of wrongdoing occurred at the brokerage, as it starts a review of Central Bank findings that it had breached market rules on conflicts of interest. Joe Brennan reports that Davy has also promised it will take “appropriate action” at the end of the review.
Along with Jack Horgan-Jones, Joe also reports that the review will be led by
Davy’s four non-executive directors, while the Oireachtas finance committee is separately to ask Davy for an explanation of the events that led to it being hit with the €4.1 million fine. ....

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FTI Investments to put €50 million into acquiring forestry harvesting rights


March 4, 2021 9:11 am
A new forestry investment platform named Family Tree Impact Investments (FTI) has launched plans to deploy €50 million over the next three years.
The FTI platform, operated by sustainable forestry manager firm NewGen Forestry, will acquire forestry harvesting rights from existing plantation owners, both farmers or private forest owners.
FTI and NewGen Forestry have secured backing from institutional investors and private offices, targeting the acquisition of harvesting rights of
2,000ha of land in its first year of operations, with plans to build a minimum portfolio of €50 million of assets by 2023.
NewGen Forestry is led by former Green Belt Forestry CEO John O’Reilly, and seed investors in FTI and NewGen include the O’Kane Family – the founders of Mercury Engineering – and David Hourihane, who previously led the establishment and deployment of the €78 million Irish Government backed Ireland Energy Efficiency Investments pl ....

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