Davy to hire Deutsche Bank’s O’kelly as CFO
DAVY is set to announce the appointment of Deutsche Bank’s Caitriona O’kelly as CFO, the Sunday Independent understands. She succeeds Peter Newman, who stepped down after 18 years with the group.
O’kelly is a managing director at Deutsche Bank, where she is global head of treasury regulation and head of EMEA treasury.
A Trinity graduate, she has also worked with ING and the European Banking Federation in Brussels, the Institute of International Finance in Washington and with AIB.
O’kelly is the latest in a string of senior appointments at the stockbrokers, including Cathal Sheridan who joins from Paddy Power Betfair, to take up the role of COO at Davy later this month. In a surprise appointment last month it was announced that AIB’S Bernard Byrne will succeed Kyran Mclaughlin as head of capital markets in May 2019.
Davy is rolling out its biggest ever ad campaign, which is understood to entail an investment of more than €1m over the next 18 months. The premise of the campaign is ‘It’s not just business, it’s personal’ and is aimed at growing the wealth management division.
Davy is the only remaining large Irish-owned stock broker following the acquisition of Goodbody Stockbrokers by Chinese investors. It employs 680 people, many of whom are shareholders in the company. It has offices in Dublin, London, Belfast, Cork and Galway and in recent years has financed eight acquisitions from cash flow – Bloxham, Prescient, Icubed, TAG, Squareseven, GCC, PFC and Danske.