The National Treasury Management Agency (NTMA) has written to the board of Davy accusing it of a breach of trust and outlining its concern about the culture, behaviour, and values within Ireland’s biggest stockbroker. The move comes as various arms of the state are considering ending asking the stockbroker to carry out work for it, a scenario which, if not addressed by Davy, will cost the firm millions of fees annually.  In its letter, the NTMA has asked the Davy board to respond to it in writing outlining what it plans to do to address its concerns and reform its…

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