Davy staff look to block sale of firm to private equity bidders

Employees fear a private equity firm will sell off less profitable sections of the stockbroker, while three members of the Davy 16 group are contesting their inclusion as defendants in a new legal case over the Anglo bond sale

Shareholders in Davy who still work at the firm are said to have concerns that a private equity buyer will break up the business by stripping out the lucrative wealth management arm and cutting adrift its less profitable capital markets business.