IQ-EQ has acquired Davy Global Fund Management (DGFM), part of Davy Group.
The newly combined Irish business will offer corporate administration, fund administration, fund management and portfolio management services, and will comprise 110 employees located in Dublin and Shannon, Ireland.
Tom Berrigan, CEO and Paul Giblin, managing director of DGFM, will join the IQ-EQ UK and Ireland senior leadership team.
DGFM comprises two business elements: a super ManCo with Irish and Luxembourg operations, as well as a boutique fund management business focused on environmental, social, and governance.
Formed in 2014, DGFM services a domestic and international client base employing 83 people – 68 based in Dublin, 13 in Luxembourg, one in London and one in Chicago.
Tom Berrigan, CEO of Davy Global Fund Management, said: “All of us at DGFM are delighted to be joining forces with IQ-EQ with whom we share similar attitudes in terms of the importance we place on our people and the service levels experienced by our clients.
He added: “Being part of a truly global service provider will both enhance our client service offering while affording our people the opportunity to continue to develop their careers and broader expertise.”
John Legrand, IQ-EQ managing director, UK & Ireland commented: “What first struck us about DGFM was just how culturally similar both of our businesses were. So, when this opportunity presented itself, we recognised it not only as a commercial great fit for our business but a cultural one too.”
He added: “For a people business like IQ-EQ this helped seal the deal. At IQ-EQ, we share DGFM’s passion and drive and believe that together we can be a formidable force in the marketplace. This is the first step of the journey and I am very excited to be taking it with them.”
