Bank of Ireland has announced the establishment of a new Wealth and Insurance division.
The group’s wholly owned subsidiaries, Davy (Wealth and Capital Markets) and New Ireland Assurance, will be part of the new division.
The Wealth and Insurance division will be led by Gavin Kelly as CEO of Davy and Wealth, a position he will take up later this year.
In this role, Mr Kelly will be CEO of Davy, will join the Davy Board, and will have oversight of New Ireland Assurance.
Davy offers investment and wealth advisory services with Assets Under Management of €25.9 billion at end-March 2024.
Davy Capital Markets offers a broad range of high-touch advisory, research and execution services to Irish and UK corporates and global institutional investors.
New Ireland Assurance, with Assets Under Management of €23.6 billion at end-March 2024, is one of Ireland’s leading providers of life assurance, pensions and investment solutions to individual and corporate customers.
Myles O’Grady, CEO of Bank of Ireland, congratulate Mr Kelly on his new role.
“Bank of Ireland’s wealth and insurance strategy offers a great opportunity to serve our customers and grow our business. Davy’s wealth and capital markets capability is an extremely important part of the Bank of Ireland Group, offering excellent services that command very high levels of client trust and satisfaction, and New Ireland is absolutely core to our business.”
