NCB Group

NCB Group
Company typePrivate
IndustryInvestment Banking
Founded1981 in Dublin, Ireland
FounderDermot Desmond[1]
HeadquartersDublin, Ireland
Number of locations
2
Area served
Worldwide
ServicesInstitutional equities,
Corporate finance,
Wealth management, Investment funds &
Debt securities,
Venture capital
Websitewww.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

References

  1. ^ "FAI can steer clear of Aviva turbulence". Independent.ie. 23 October 2011.
  2. ^ Ghosh, Palash (8 February 2011). "Ireland faces bleak recovery: NCB". International Business Times.
  3. ^ 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.
  4. ^ Ciarán Hancock (15 May 2013). "Stockbroker NCB rebrands by taking the name of parent company Investec". The Irish Times. Archived from the original on 26 August 2023.
  5. ^ "Our Story". Ulster Bank. Archived from the original on 1 February 2010. Retrieved 1 June 2012.
  6. ^ "The Archive Guide - Ulster Bank Ltd". Royal Bank of Scotland. Archived from the original on 27 September 2007. Retrieved 8 June 2007.
  7. ^ Jim Aughney (4 November 2003). "Quinn Group takes the 20pc Desmond-backed NCB stake". Irish Independent. Archived from the original on 10 October 2007.
  8. ^ "NCB sells moneybroking arm". Irish Examiner. 23 October 2004. Archived from the original on 9 June 2012.
  9. ^ Barry O'Halloran (23 October 2004). "NCB to sell division for over €1m". The Irish Times. Archived from the original on 10 October 2012.
  10. ^ Cathal Hanley (26 September 2005). "NCB venture capital fund to realise 75% return". The Irish Times. Archived from the original on 10 October 2012.