The Northern Ireland division of Dublin headquartered financial services group Davy has made its first acquisition with the takeover of Belfast-based Square Seven.
No financial details surrounding the acquisition of the financial planning and advisory service firm have been disclosed.
Stephen Felle, managing director of Davy Private Clients (NI) and a Davy director, believes its first acquisition in the North is a sign of its growing confidence in the Northern Ireland market.
Davy Private Clients has been in the North since 2007. It currently has a team of 10 in Belfast. Mr Felle said he was “quietly optimistic” about Northern Ireland and that it offered “significant growth opportunities”.
Davy was interested in pursuing other potential acquisitions in the North and he hoped some might materialise before the end of the year.
Mr Felle said the North was strategically important for Davy, increasing assets under management by more than 20 per cent last year (excluding market growth).
