IQ-EQ has acquired Davy Global Fund Management (DGFM), part of the Davy Group.
The newly combined Irish business will offer corporate administration, fund administration, fund management and portfolio management services, and will include 110 employees located in Dublin and Shannon, Ireland.
Tom Berrigan, CEO and Paul Giblin, Managing Director of DGFM, will join the management team of IQ-EQ UK and Ireland.
DGFM comprises two business elements: a super ManCo with Irish and Luxembourg operations, as well as a boutique fund management business focused on environment, social and governance.
Created in 2014, DGFM serves a national and international clientele 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 partner with IQ-EQ with whom we share similar attitudes in terms of the importance we place on our employees and levels of service experienced by our customers.
He added, “Being part of a truly global service provider will both enhance our customer service offering while providing our employees with the opportunity to continue to develop their careers and broader expertise.”
John Legrand, Managing Director of IQ-EQ, UK & Ireland, said: “What first struck us about DGFM was how culturally similar our two businesses were. So when this opportunity arose, we recognized it not only as an ideal business solution for our company, but also as a cultural one.
He added, “For a people company like IQ-EQ, it helped close the deal. At IQ-EQ, we share the passion and drive of DGFM and believe that together we can be a formidable force in the marketplace. It’s the first leg of the journey and I’m very happy to do it with them.