Irish Life Group are set to acquire a strategic shareholding in Ireland’s largest Irish-owned independent financial consultancy, Invesco.
The terms of the transaction have not been disclosed but no job losses are expected on its completion, expected in the third quarter of 2018, subject to regulatory approvals.
Invesco employs 125 people at its sites at Sandyford, Dublin and Lapp’s Quay, Cork, and has €4.8bn in assets under administration.
The independent consultancy firm will continue to operate under its existing brand and with the same senior leadership team following Irish Life’s investment.
“This new strategic investment means that Invesco will be backed by the strength of Great-West Lifeco as it continues to successfully execute its growth plans,” David Harney, Chief Executive of Irish Life Group said.
Des McGarry, Managing Director, Invesco said the firm had been “exploring options” as part of their growth ambitions.
“In Irish Life we will have a shareholder that understands the value of our independence, and that will support our growth through access to resources, technology and expertise on a global scale,” he said.
Article Source: http://tinyurl.com/kbwqb42
- 21 Belvedere Place, Dublin 1
- +353 1 855 4188
- +353 1 836 6550
- 20 Mar 2019UK jobs growth surges as labour market defies Brexit nerves
- 20 Mar 2019Banks fight thousands of disputed tracker cases
- 20 Mar 2019Taoiseach hosts talks with Tusk as Brexit deal deadline looms
- 18 Mar 2019Ireland outpaces EU average again with 6.7pc GDP rise
- 18 Mar 2019Mortgage arrears dip as court repossessions fall to nine-year low