Killarney's Gallivan Financial enters Dublin market through new acquisition
Financial details of the acquisitions have not been disclosed, but the deal will increase Gallivan Financial's total assets under management (AUM) to more than €650m. With several additional deals currently in exclusivity, Gallivan is now on track to surpass €1bn in AUM by the end of this year.
The acquisition of Mount Street brings Gallivan's business into the Dublin market for the first time. It was the company's third major transaction in the past two years. The acquisition of Kelly O'Shea Pensions & Financial Services, which was its fourth deal, strengthens its position in Kerry.
In 2023, the firm acquired Vincent Casey Life & Pensions, a Killarney-based broker, adding €80m in AUM. This was followed by the acquisition of Limerick-based financial advisory firm FJ Hanly & Associates in September 2024, contributing an additional €100m.
Mount Street Group currently manages more than €150m in assets, while Kelly O'Shea Pensions & Financial Services has €40m in assets under management.
Gallivan Financial is majority-owned by the Gallivan family, who previously sold Gallivan Murphy Insurance Brokers (GMIB) to US-based Assured Partners in 2022 in a deal understood to be worth €100m. Gallivan Financial was not part of that transaction.
Fergal Smith, Gallivan Financial Managing Director, said they were excited to welcome both firms. "Our integration plan is centred around continuity - clients will continue working with the same trusted advisors, while benefiting from the broader resources, technology, and expertise of our combined teams," he said.
"We are continuing to look for further expansion opportunities, as we seek to expand Gallivan Financial into a very significant player in the growing Irish wealth management sector. We are currently in exclusive negotiations with a number of parties and are hopeful of closing further deals before the year-end.'
Marie Ainsworth, founder of Mount Street, which has more than 500 clients, said they reached the point where a decision had to be made on how to develop the business further. "Our options came down to either expanding the business, which would require an investment of capital or, to look to partner with a suitable firm which can provide the resources required," she said.
"After careful consideration, I decided to initiate a process to merge the business with a partner that shared our values and vision when it comes to how we treat our customers, and our standards of service."
Kelly O'Shea Pensions & Financial Services Ltd was founded in 2006 and today, has 320 clients. Founder Aidan Kelly said:
"After nearly two decades building a business grounded in trust and personal service, finding the right partner for the next chapter was incredibly important. From the outset, it was clear that Gallivan Financial shared our values and long-term commitment to clients.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
an hour ago
- Irish Times
Gallagher quit Nutribrand after firm decided to change chairman, says presidential hopeful Sheridan
Former presidential candidate Seán Gallagher resigned from his role at Nutribrand after it decided to replace him as chairman, the company's chief executive, Gareth Sheridan , has said. Mr Sheridan, who announced his own bid for the presidency over the weekend, said the company was 'surprised' when Mr Gallagher raised the issue of a basketball corporate box in his January 2022 resignation letter. The 35-year-old pharma businessman from Terenure in Dublin intends to run as an independent candidate, seeking a nomination from local authorities to get on the ballot paper. Mr Sheridan cofounded US-based Nutribrand in 2012, which utilises technology to prevent the abuse of patch medications such as fentanyl. READ MORE Mr Gallagher, another Irish businessman who came second in the presidential race of 2011, became chairman of Nutribrand in 2018. However, according to Mr Sheridan, Mr Gallagher resigned from the role in January 2022 when communications broke down over a change in corporate structure. A spokesman for Mr Sheridan said Mr Gallagher's resignation came shortly after the company decided his role should be filled by 'someone with US capital markets experience'. It was decided that Serguei Melnik, a cofounder of Nutribrand, would be appointed chairman and that Mr Gallagher would 'voluntarily vacate' the role and remain as director on the same remuneration package. 'Communication broke down at this point,' the spokesman said, and Mr Gallagher submitted a resignation in January 2022. The spokesman said the company was 'surprised' when Mr Gallagher referenced a corporate box in his resignation letter. In 2020 the company paid $180,000 for a corporate box from basketball team Orlando Magic at the Amway Arena Stadium in Florida, for a renewable one-year period. The company described it as a 'good fit' because 'it is the NBA's most prominent team in the fight against the misuse of opioids'. Nutribrand retains this corporate box and has extended its contract, the spokesman said. Also declared as presidential contenders are former MEP Mairead McGuinness, selected as Fine Gael's candidate, and Independent TD for Galway West Catherine Connolly, who has support from Oireachtas members. No other parties have announced candidates as yet.
Irish Times
an hour ago
- Irish Times
Fáilte Ireland appoints Caroline Bocquel as new CEO
Fáilte Ireland has appointed Caroline Bocquel as its new chief executive. Ms Bocquel, the first woman to led the State tourism agency, will step into the role in November. Paul Kelly , who had led Fáilte Ireland for eight years, stepped down in March to take over as chief executive of the Royal Dublin Society (RDS) . Ms Bocquel, an executive with 20 years' experience, most recently served as chief executive of Bord Iascaigh Mhara (BIM), the State agency responsible for the development of the Irish seafood sector. She has been in that position since January 2023, having previously served as BIM's director of corporate services. She is the chairwoman of the audit and risk committee at the Irish Environmental Protection Agency (EPA) and formerly served as the chief financial officer of aid agency, Goal Global. READ MORE Ms Bocquel said she was honoured to be appointed to the position, describing Fáilte Ireland as 'central to one of Ireland's most vital industries'. 'Tourism supports hundreds of thousands of jobs in communities nationwide, and its sustainable growth is essential to our economic and cultural future,' the incoming chief executive said. She outlined her aim of working to 'ensure Ireland continues to offer world-class experiences while building a resilient, innovative and inclusive tourism sector'. Minister for Enterprise, Peter Burke , said he was 'happy' to approve Ms Bocquel's appointment, adding that 'tourism is of critical importance to the Irish economy'. Mr Burke said Ms Bocquel 'has the strategic skills, development mindset and governance experience needed to support the sustainable growth of our tourism economy into the future'. 'I am confident that Caroline and her team will work closely with the industry and my officials as we develop and support the Irish tourism sector together,' the minister said. Ruth Andrews , chairwoman of the Fáilte Ireland, said the appointment came following 'a highly competitive recruitment process'. Before Ms Bocquel formally assumes the role in November, Paul Keeley, the director of regional development, will serve as interim chief executive.
Irish Times
4 hours ago
- Irish Times
Six restaurants where you can find especially good value in Ireland
Achara 14-18 Aston Quay, Dublin 2; 089-9477910, Achara, on Dublin's Aston Quay. Photograph: Fran Veale Walking from the busy Dublin quays into the diningroom at Achara , gently fragranced with the smell of grilled meats, is like being briefly transported far away. Chef Graeme Reynolds pulls no punches, delivering authentic Thai flavours such as chicken wings in fish sauce caramel, Wagyu basil chilli beef krapao and XO mushroom larb. Check out the €15 weekday lunch menu for some of the best value in town. Joanne Cronin Dining Room Bridge Street, Gorteendrunagh, Castlebar, Co Mayo; 09-49021861, Dining Room, Castlebar - 'thoroughly composed'. Photograph: Michael McLaughlin Dining Room in Castlebar has been quietly serving one of the best-value prix fixe menus in the country since 2016: €42 or €59 gets you three courses and a sorbet – brown soda bread, scallops with Kelly's black pudding, Hereford sirloin with gratin dauphinoise, and a sticky toffee pudding that justifies the drive. Service is calm, the room is dark wood and Prussian blue, and every plate feels thoroughly composed. Corinna Hardgrave L'Atitude 51 1 Union Quay, Cork; 021-2390219, L'Atitude 51 wine bar, Cork. Photograph: Joleen Cronin The mark of a great wine bar is shown in how they share their enthusiasm for wine with their customers, and the charming L'Atitude 51 leads the way when it comes to a calendar packed with wine tastings and food and wine pairing events. The food menu is designed for sharing, with simplicity and quality shining through. Try Macroom burrata with olive oil, radishes with anchoïade or haddock and mussel croquettes, and of course, some magnificent wines. JC Richmond 43 Richmond Street South, Portobello, Dublin 2; 01-4788783, Richmond restaurant on Richmond Street South, Dublin. Photograph: Crispin Rodwell In a bustling neighbourhood, this spot still delivers a solid early evening menu – two/three courses for €42/€52 – proving that early bird doesn't have to be bland. David O'Byrne, with his Michelin Bib Gourmand since 2018, keeps the menu fresh with creative dishes like grilled sea bass with orange and kohlrabi or pan-seared halibut with fennel, shellfish, and chorizo barley broth. A five-course tasting menu is also available on the first Tuesday of each month for €72. CH READ MORE The Fish Box Green Street, Dingle, Co Kerry; 087-6027866, Fish and chips at The Fish Box in Dingle It's all systems go in Dingle for the Flannery family who have increased the number of seats at The Fish Box as well as moving the takeaway to Paddy Bawn Brosnan's. New this summer is Fish Outside of the Box, offering lobster, crab and prawn rolls along with cocktails, wine and beer. With fish direct from their own fishing vessel and commitment to a sustainable supply chain, it's among the country's top seafood spots. JC Volpe Nera 22 Newtown Park, Blackrock, Co Dublin; 01-2788516, Volpe Nera restaurant in Blackrock, Co Dublin Darren D'Arcy always has a perfect bottle of wine on hand to match the dishes that flow from Barry Sun's kitchen. It's no easy task, given Barry's broad range of skill and flavours. Think Flaggy Shore oysters with a dab of home-made chilli oil, his signature mushroom dumplings, BBQ brill for two or a classic rum baba with strawberries. It's worth noting that the evening neighbourhood menu offers seriously good value. JC [ This just might be the best-value restaurant menu in the country Opens in new window ]
