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, a subsidiary of 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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