Graham Corry Cheevers has been acquired by Davy Private Clients UK, the Northern Ireland-based wealth management and financial planning division of the Davy Group.
Graham Corry Cheevers is a financial advisory and investment firm based in Belfast. Formed in 1995 by its three founding partners Brian Corry, Gavin Graham and Nigel Cheevers, it provides investment management, stockbroking and financial advisory services in Northern Ireland. It advises private, corporate, trust and pension clients, and has around 2,500 clients with £230m (€315m) assets under management.
Once the deal is complete next month, the Graham Corry Cheevers team will relocate its staff to Davy’s offices in Donegall Square, Belfast.
Davy Group is an acquisitive firm and this latest deal makes its six acquisitions in less than four years. This includes the purchase of Bloxham in 2012, Prescient (formerly AIBIM) in 2013 and Square Seven and iCubed in 2014, as well as the recent acquisition of Trusted Advisor Group.
Chief Executive of Davy Group Brian McKiernan said: “Davy is very pleased to acquire a complementary business that is focused on providing high quality investment and financial advice to its clients. Over recent years we have we have invested over £30m (€40m) in people, systems and infrastructure to meet the evolving needs of clients. This investment has driven strong growth that has seen Davy adding 150 staff to our offices in Ireland and the UK.”
Chief Executive of Davy Private Clients UK Stephen Felle said: “Davy is now a major player in the Northern Ireland financial services market, offering clients high quality financial advice and global investment solutions. We see Northern Ireland as an area of key growth for the firm and plan to further consolidate this position in the near term as we continue to assess further strategic acquisitions like Graham Corry Cheevers. The UK-centric investment and regulatory infrastructure that we have established in Northern Ireland is a platform on which to build our service offering in the United Kingdom.”
Brian Corry, Gavin Graham and Nigel Cheevers, said: “We are proud of the business we have created over the past 20 years and grateful for the support of our clients and staff. Having conducted a thorough review of our current business and the best long term interest of our clients, we felt it was time to join a firm that has the requisite financial and infrastructural resources to meet our clients’ evolving needs in the years ahead.”