Davy Stockbrokers

20th century

James and Eugene Davy were raised in Rathmines.

21st century

In 2006, Davy opened another regional office in Galway.

The same year, Davy opened a dedicated office for Northern Ireland, located in Belfast city centre.

Davy was the only Irish dealer in Irish Government Bonds, when the country returned to the market for the first time since 2010 in January 2012.

In 2012, Davy Research was named Ireland's No.1 brokerage and also the country's No.1 Equity Research Team in the Institutional Investor All-Europe Research Team 2012 Survey.

Davy advised the Irish Government on the sale of the national lottery license, operated by the stated owned An Post.

On 8 March 2012, Davy announced acquired Bloxham Stockbrokers private client business. The following May, Davy announced that it had acquired Bloxham's asset management business. The two acquisitions increased Davy's assets under management by approximately €1.2 billion.

When the Irish Stock Exchange demutualised in April 2014, the broker became its largest shareholder holding 37.5% of the Exchange.

Controversy

Bribery and payments to politicians

The Mahon Tribunal established that Davy, throughout the 1980s and 1990s, made a series of payments to the corrupt politician Liam Lawlor.

In 1992, Davy made a political donation of a £5,000 cheque to Bertie Ahern, which was paid into Fianna Fáil constituency official Tim Collins's account who stated in writing when opening it that the account was for his own use only.

Tax evasion

Davy admitted that its representatives in 1999 devised a Liechtenstein based tax evasion scheme uncovered by the public service broadcaster, RTÉ.

Insider trading scandal

In a 2005 insider dealer case, the chief executive of Fyffes plc whose shares were the subject of the illicit trading said that he was "set up" by Davy. He also told the High Court he believed Davy and the party found responsible by the courts of insider dealing had coordinated to sell the shares they held in his company.

2011 Central Bank of Ireland fine

In December 2011, the Central Bank reprimanded and fined the firm for failing to report 61,542 transactions. Davy described the breaches as "technical".

Contract for Difference (CFD) pushing scandal

A former client of Davy with intellectual disabilities was awarded €2m by the High Court in 2014 after the court found that Davy had caused him substantial investment losses through "deliberate neglect".