National City Brokers
Encyclopedia
NCB Group is an investment bank based in Dublin, Ireland
. 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
. During the 1980s Ireland two biggest banks AIB and Bank of Ireland took interests in stockbroking firms, so it was no surprise when NCB was sold to Ulster Bank
, then part of the National Westminster Bank.. Once National Westminster were taken over by the Royal Bank of Scotland
NCB was bought out by its management with the assistance of Sean Quinn
.
NCB sold its money broking arm to management and employees in 2004.
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.
The firm is noted for the quality of its research and its commentary on the Irish economy and property market.
See also
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
. Founded by Dermot Desmond
Dermot Desmond
Dermot Desmond is an Irish businessman and financier. He is estimated to be worth €1.45billion and is ranked by the Sunday Independent as the sixth-richest person in Ireland.-Background and education:...
, 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
Volvo Ocean Race
The Volvo Ocean Race is a yacht race around the world, held every three years. It is named after its current owner, Volvo...
. During the 1980s Ireland two biggest banks AIB and Bank of Ireland took interests in stockbroking firms, so it was no surprise when NCB was sold to Ulster Bank
Ulster Bank
Ulster Bank is a large commercial bank, one of the Big Four in both Northern Ireland and the Republic of Ireland. The Ulster Bank Group is subdivided into two separate legal entities, Ulster Bank Limited and Ulster Bank Ireland Limited...
, then part of the National Westminster Bank.. Once National Westminster were taken over by the Royal Bank of Scotland
Royal Bank of Scotland
The Royal Bank of Scotland Group is a British banking and insurance holding company in which the UK Government holds an 84% stake. This stake is held and managed through UK Financial Investments Limited, whose voting rights are limited to 75% in order for the bank to retain its listing on the...
NCB was bought out by its management with the assistance of Sean Quinn
Seán Quinn
Seán Quinn is an Irish businessman and conglomerateur, now bankrupt. In 2008 he was the richest person in Ireland, but he now has debts...
.
NCB sold its money broking arm to management and employees in 2004.
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.
The firm is noted for the quality of its research and its commentary on the Irish economy and property market.
See also
- Irish Stock ExchangeIrish Stock Exchange-History:The Irish Stock Exchange is Ireland's only stock exchange and has been in existence since 1793. It is an Irish private company limited by guarantee. It was first recognised by legislation in 1799 when the Irish Parliament passed the Stock Exchange Act...
- Irish Property BubbleIrish property bubbleThe property bubble in the Republic of Ireland began in 2000 and peaked in 2006, as with many other western European countries, with a combination of increased speculative construction and rapidly rising prices....
- Volvo Ocean RaceVolvo Ocean RaceThe Volvo Ocean Race is a yacht race around the world, held every three years. It is named after its current owner, Volvo...