Davy Group has confirmed that it is being put up for sale following a week and a half of unrelenting negative publicity and instability arising from a bond dealing scandal. Investment bank Rothschild has been appointed to manage the process on behalf of Davy. Bank of Ireland is seen in the marketplace as the best strategic fit for Davy. The bank owned a 90pc stake in the firm until 2006 when management executed a buy-out. Davy would bring much-needed fee income and valuable corporate relationships to the bank.

Source: Irish Independent March 11, 2021 21:25 UTC