The acquisition of Bloxham’s private client business includes the AUM worth EUR540 million and a client base serviced from offices in Dublin, Cork and Limerick.
The deal also will involve the transfer of 27 Bloxham staff in Dublin, Cork and Limerick to Davy.
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Commenting on the acquisition, Brian McKiernan, head of Davy private clients, said, "We welcome the clients and team to Davy and will look to build on the good relationships that have been established over this timeframe."
Regarding the sale, Pramit Ghose, Bloxham managing partner said: "Following a strategic review of our business, we have decided to focus on our asset management, institutional bond and institutional equity businesses."
Post the closure of the business on 11th May 2012 the Bloxham Private Client business will move to Davy offices in Dublin and Cork, and Bloxham’s Limerick office will be maintained under the Davy banner.
And until 11th May 2012, Bloxham will continue to service their client portfolios and clients, in the interim are asked to contact their existing Bloxham broker for any queries.
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