Fin24

Investec buys Ireland’s NCB

2012-01-27 09:47

Dublin - Investec [JSE:INL] has acquired Irish securities group NCB, the South African financial group said on Friday.

Terms of the deal were not disclosed.

Dublin-based NCB, which employs 120 people, has around €1.3bn of private client funds under management.

“The NCB business will complement our successful capital markets business in Ireland and is consistent with the group’s overall objective to expand its fee-based and capital-light activities,” Michael Cullen, CEO of Investec Ireland, said in a statement.