NCB Group

NCB Group was an investment bank based in Dublin, Ireland. Founded by Dermot Desmond, NCB firmly established its reputation by sponsoring a yacht NCB Ireland in the 1989 Whitbread Round-the-world yacht race, now the Volvo Ocean Race.[1]

NCB Group
TypePrivate
IndustryInvestment Banking
FoundedDublin, Ireland (1981)
FounderDermot Desmond
HeadquartersDublin, Ireland
Number of locations
2
Area served
Worldwide
ServicesInstitutional Equities, Corporate Finance, Wealth Management, Investment Funds & Debt Securities, Venture Capital

It was taken over by Investec and rebranded in 2013.[2]

History

During the 1980s after Ireland's two biggest banks Allied Irish Banks and Bank of Ireland took interests in stockbroking firms, NCB was sold to Ulster Bank, then part of the National Westminster Bank.[3][4]

After National Westminster was taken over by the Royal Bank of Scotland, NCB was bought out by its management with the assistance of Sean Quinn[5]

NCB sold its money broking arm to management and employees in 2004.[6][7]

Investors in a fund started by the venture capital arm of NCB, NCB Ventures, realized a 75% return on their investment when the fund closed in 2006.[8]

See also

References
  1. O'Coineen, Enda (1990). Sail Ireland: NCB Ireland Challenge in the Whitbread Round the World Race, 1989-90. Kilcullen International. ISBN 978-0-9516662-0-3.
  2. NCB rebrands by taking the name of parent company Investec
  3. "Our Story". Ulster Bank. Archived from the original on 1 February 2010. Retrieved 1 June 2012.
  4. "The Archive Guide - Ulster Bank Ltd". Royal Bank of Scotland. Archived from the original on 27 September 2007. Retrieved 8 June 2007.
  5. Aughney, Jim (4 September 2003). "Quinn group takes the 20pc Desmond-backed NCB stake". Independent.ie. Independent News & Media. Retrieved 8 June 2007.
  6. "NCB sells moneybroking arm". Irish Examiner. 23 October 2004. Retrieved 1 June 2012.
  7. O'Halloran, Barry (23 October 2004). "NCB to sell division for over €1m". Irish Times. Retrieved 27 March 2008.
  8. Hanley, Cathal (26 September 2005). "NCB venture capital fund to realise 75% return". Irish Times. Retrieved 2 April 2008.
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