Financial Services | Business Post

New Central Bank rules for senior executives ‘a step too far’

Professional body for staff in financial services has called on regulator to trust the sector

Waystone poaches Citi executive Sawhney after earlier departure of senior management team

Former executives Derek Delaney, the global chief executive, Paul Cahill, the chief operating officer, and Glen Magee, the chief financial officer, left the company earlier this year

LC Financial snaps up BCM at a reduced price of €30 million

The Dublin-headquartered firm had originally bid €65m two years ago for the banking and credit management business

EY to cut UK jobs amid sinking demand for services

Cuts will affect 5 per cent of the 2,3000 employees at the firm’s consulting division in Britain

Waystone continues shake up of senior management team with two further exits

The financial services firm recently valued at €1 billion has endured a turbulent six months after the departure of a host of senior executives in March

Central Bank launches inquiry into unnamed individual involved in regulated firm

Full details of the public inquiry, which is distinct from the bank’s normal regulation and enforcement activities, will be announced next week

Post Script: ATM withdrawals; yellow box blues; Cosgrave has a go

The Business Post takes a look at the scenes behind the stories

Self-employed project workers ‘becoming the norm’ for firms

Study finds majority of businesses now have a minimum 10 per cent of their workforces employed on a freelance basis – many earning more than €100,000

Dublin-based Waystone agrees £140m deal to acquire British firm Link Fund Solutions

Under the terms of the deal, the Dublin-headquartered financial services company will pay between £110 million and £140 million to acquire the business

New environmental targets will require civil service to seek new offices

Savills said that state demand could drive up activity in the office leasing market as new climate rules come into force

Professional services firm Azets Ireland to create 120 jobs

Azets is also looking to hire a number of people for its recently created entry-level and graduate positions

Ministers meet with insurance sector over ‘right to be forgotten’ laws

Minister for Finance Michael McGrath and Minister of State Jennifer Carroll MacNeill made clear the ‘importance’ of cancer survivors being given equal access to financial products in a meeting with Insurance Ireland

Tipperary based SYS Group acquires retirement planning firm

Acquisition will bring overall assets under management by SYS Group to over €315 million

Ulster Bank to retain small number of staff in Ireland after closing

Most staff will eventually be made redundant, but exiting bank is giving workers as long as possible to find another job

How a Dublin start-up founded during lockdown grew with remote staff in seven countries

Dimply is a high-potential start-up (HPSU) with Enterprise Ireland and has received support in commercialising the business from the agency

The Big Interview

‘Credit unions are awash with cash, there is a huge opportunity’ – Alan Kelly

Alan Kelly, chief executive of Metamo, a joint venture between Fexco and 16 of the country’s largest credit unions, is optimistic that collective expertise and strength will allow the credit union sector to ‘seize the moment’ as banks make their exit

Irish homeowners to keep paying high interest rates even if repossessions rise

It was thought by some that allowing home to be repossessed more easily would bring interest rates down, but Finance’s Retail Banking Review states that the move would make little difference to the cost of loans

Peter O’Dwyer: Does Donohoe’s report hold Ireland’s banks to account?

Amid diminishing bank competition, a significant shift in customer relations and digitalisation challenges, a new report commissioned by the Minister for Finance concludes that unwinding financial crisis-era restrictions is essential, but acknowledges that many issues remain to be addressed

Hospitality businesses are struggling to access insurance cover, publican says

Ciarán Hanley, a Galway publican, says cost of insurance policy has increased by 70 per cent and only one underwriter was willing to provide cover

D’Arcy left role as Revolut director when company dropped Irish e-money licence

Fintech abandoned plans to run its western European business from Dublin