NTMA paid Davy €14.2m in seven years before Anglo Irish bond scandal

The agency later terminated the stockbroker’s authority to act as main dealer in government bonds after it was fined heavily for double-dealing

The total amount paid to Davy since 2014 was €14.2 million, and the most it was paid in any single year was €2.89 million in 2020

Davy was paid €14.2 million by the National Treasury Management Agency (NTMA) before it was forced to shut its bonds desk in the wake of the scandal around double-dealing, new figures show.

The NTMA withdrew Davy’s authority to act as primary dealer in government bonds last month after the stockbroker was fined €4.13 million for four market breaches relating to the 2014 trade of an Anglo Irish Bank bond.

Davy announced the closure of the ...