In 2015, Tom Lyons exposed a startling deal involving Davy Stockbrokers and a client over Anglo bonds. Following a damning Central Bank investigation into the scandal last week, we have continued to focus on the deal and the Davy executives behind it. This is a portal to all our coverage.
Davy will be hoping this blows over. Hopefully, it won’t. This is a bona fide scandal. Talk of cultural reform is all well and good, but it is hard to believe and hard to stomach.
The Central Bank’s €4.1m censure is only the start. Add in the legal bills Davy incurred over a multi-year investigation. Plus, it also paid out a multi-million euro settlement to the developer the firm wronged.
Davy and the Bank of China are the two leading contenders to buy Goodbody stockbrokers. Fexco, the 51% owner of Goodbody, will have the final say. For Goodbody staff, who own the remaining 49%, a lot is at stake.
Chinese financial giant has dispatched a team to Dublin to seal deal for broker but faces challenge from Davy and Irish Life.
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