Banking

Senior bankers turn to union as negotiations over move to Davy stall

It is understood that Bank of Ireland plans to transfer up to 30 private client managers from its in-house wealth management unit to Davy, but the move is not going smoothly

Myles O’Grady, chief executive of Bank of Ireland: the bank completed a €593 million deal to acquire Davy last year

Several senior bankers in Bank of Ireland have enlisted the Financial Services Union (FSU) to represent them, after negotiations to transition their roles across to Davy stockbrokers have become fraught in recent months, the Business Post has learned.

Bank of Ireland completed a €593 million deal to acquire Davy last year after the stockbroking firm put itself up for sale in the wake of a Central Bank investigation into a bond trade that took place ...