NCB Group explained

NCB Group
Founder:Dermot Desmond[1]
Locations:2
Area Served:Worldwide
Homepage:www.ncb.ie

NCB Group was an investment bank based in Dublin, Ireland.[2] 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.[3]

It was taken over by Investec and rebranded in 2013.[4]

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.[5] [6]

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.[7]

NCB sold its money broking arm to management and employees in 2004.[8] [9]

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.[10]

See also

External links

Notes and References

  1. Web site: FAI can steer clear of Aviva turbulence . Independent.ie . October 23, 2011 .
  2. News: Ghosh . Palash . Ireland faces bleak recovery: NCB . International Business Times . February 8, 2011 .
  3. Book: O'Coineen, Enda. Sail Ireland: NCB Ireland Challenge in the Whitbread Round the World Race, 1989-90. Kilcullen International. 1990. 978-0-9516662-0-3.
  4. Web site: Stockbroker NCB rebrands by taking the name of parent company Investec . The Irish Times . Ciarán Hancock . May 15, 2013 . https://web.archive.org/web/20230826152506/https://www.irishtimes.com/business/financial-services/stockbroker-ncb-rebrands-by-taking-the-name-of-parent-company-investec-1.1393590 . August 26, 2023 . live .
  5. Web site: Our Story. 1 June 2012. Ulster Bank. dead. https://web.archive.org/web/20100201225327/http://group.ulsterbank.com/about-us/our-history/our-story.ashx. 1 February 2010.
  6. Web site: The Archive Guide - Ulster Bank Ltd . 8 June 2007 . https://web.archive.org/web/20070927063601/http://www.rbs.com/about03.asp?id=ABOUT_US%2FOUR_HERITAGE%2FOUR_ARCHIVES%2FONLINE_ARCHIVE_GUIDE%2FTHE_ARCHIVE_GUIDE%2FULSTER . 27 September 2007 . Royal Bank of Scotland . dead .
  7. Web site: Quinn Group takes the 20pc Desmond-backed NCB stake . Irish Independent . Jim Aughney . November 4, 2003 . https://web.archive.org/web/20071010061126/http://www.independent.ie/business/irish/quinn-group-takes-the-20pc-desmondbacked-ncb-stake-194773.html . October 10, 2007 . dead .
  8. Web site: NCB sells moneybroking arm . Irish Examiner . October 23, 2004 . https://web.archive.org/web/20120609122402/http://www.irishexaminer.com/archives/2004/1023/ireland/ncb-sells-moneybroking-arm-573160074.html . June 9, 2012 . dead .
  9. Web site: NCB to sell division for over €1m . The Irish Times . Barry O'Halloran . October 23, 2004 . https://web.archive.org/web/20121010165537/http://www.irishtimes.com/newspaper/finance/2004/1023/1097847312583.html . October 10, 2012 . dead .
  10. News: NCB venture capital fund to realise 75% return . The Irish Times . Cathal Hanley . September 26, 2005 . https://web.archive.org/web/20121010165617/http://www.irishtimes.com/newspaper/breaking/2005/0926/breaking46.html . October 10, 2012 . dead .

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