Banking

Bank of Ireland reaches pension deal with senior bankers moving to Davy

Twenty private client managers will be compensated for giving up their defined benefit pension entitlements as part of the transfer to stockbrokers Davy, which Bank of Ireland acquired last year

Transfer: Twenty of Bank of Ireland’s senior bankers are transitioning to Davy stockbrokers

Bank of Ireland has reached a compensation deal with 20 of its senior bankers that will see them give up their defined benefit pension entitlements as they transfer across to Davy stockbrokers, the Business Post has learned.

As previously reported by this newspaper, a group of private client managers from Bank of Ireland’s in-house wealth management unit enlisted the Financial Services Union (FSU) to represent them, after negotiations to transition their roles across to Davy ...