On the face of it, it was a convincing argument. In a series of behind-closed-doors meetings in Co Kerry, Brian McKiernan and Kyran McLaughlin, the chief executive and deputy chairman of the stockbroking firm Davy, attempted to explain to Brian McCarthy, the founder of Fexco, why he should merge the state’s oldest stockbroker, Goodbody, with its largest, Davy. The meetings, which took place around March 2019, have never been reported on in detail before. At the time, they were known only to a handful of powerbrokers in Davy and to no one whatsoever directly within Goodbody. In the meetings, the…

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