Two big to fail: will the sale of Davy undermine Irish banking?

Davy Stockbrokers is likely to be bought by Irish Life or Bank of Ireland, and with AIB buying Goodbody, it will create two banking behemoths, raising a number of questions as to what that will mean for the market here

If Bank of Ireland or Irish Life succeed in buying Davy, it will effectively create an Old Firm of retail banking, stockbroking and wealth management in Dublin. Photo: Bryan Meade

Next week, an information memorandum – effectively a detailed sales brochure – will land on the desks of several major financial firms in Dublin and further afield. It will contain all the information those firms need to make a decision on whether they should buy Davy, the biggest stockbroking firm in Ireland.

Two addresses to which it is very likely to be sent are the Abbey Street headquarters of Irish Life, the pensions and insurance ...