Latest news with #GillenMarkets
Times
18-05-2025
- Business
- Times
Predatory firms are circling Kestrel and Kinsale Capital
Bigger predators are sniffing around the independent wealth management and financial services sector looking for deals. Just weeks after I revealed that Rory Gillen's GillenMarkets was attracting interest, Quilter swooped to buy it. I hear that John Crowe's Kestrel and Gearoid Doyle's Kinsale Capital may also be on the target lists of bigger players. Crowe and his team are highly regarded in the industry, and he runs a tight ship at Kestrel. A core part of Doyle's business is the Compass fund, which is run by the star fund manager Peter Kinney. The fund has absolutely shot out the lights in recent years. I believe both firms also have access to the global bank UBS and its wealth management offering. I hear that a valuation
Irish Post
11-05-2025
- Business
- Irish Post
Dublin-based investment advisory firm GillenMarkets acquired by leading wealth management company
DUBLIN-BASED investment advisory firm GillenMarkets has been acquired by the Irish subsidiary of leading British wealth management company, Quilter Cheviot. Quilter Cheviot Europe Limited (QCE), itself based in the Irish capital, see the new acquisition as a 'fantastic fit' for the company. Meanwhile, GillenMarkets founder Rory Gillen, who will join QCE as part of the acquisition, said the move was a great opportunity for his clients. Set up 15 years ago, GillenMarkets provides advice for personal, pension and corporate clients and currently advises over €0.6bn of assets for around 500 families. As well as offering wealth management services, it publishes a monthly newsletter with impartial research and analysis that allows people to make informed investment decisions. It also runs two training courses and regular webinars to provide investors with the tools and knowledge need to help achieve their financial goals. Mr Gillen welcomed the deal, saying both companies shared a similar outlook. "Quilter Cheviot has an excellent reputation in the market and due to our similar investment and client-focused philosophies, becoming part of a larger business with such investment resources, heritage and prestige feels like a great opportunity for both our clients and colleagues," said Mr Gillen. "Having built our business up over the last 15 years, we look forward to this next chapter as part of Quilter Cheviot, which is itself at an exciting juncture in its growth plans." As well as the firm's founder, five investment advisers and their support team will also join QCE's Dublin-based operation. 'Admired for many years' Quilter Cheviot has a history dating back more than 250 years, when 150 stockbrokers formed a club at Jonathan's Coffee House, the original site of the London Stock Exchange. Offering discretionary investment management services, the company caters for private clients, charities, trustees and professional partners. The Dublin office was established in 2003 and six years ago was authorised and established as Quilter Cheviot Europe to serve clients across the EU. The new acquisition will help expand QCE's presence in Ireland and evolve its integrated investment management and financial planning offering for clients all across Europe. "GillenMarkets is a business that we have known and admired for many years and represents a fantastic fit for QCE," said Andrew Fahy, Chief Executive of QCE. "We are very excited to welcome Rory Gillen and all our new colleagues and clients to our thriving business. "GillenMarkets has seen tremendous growth over the last number of years and we are really looking forward to working to support our new clients and their families. "The transaction is really positive news for all concerned. "This acquisition will really help to build on QCE's scale and reach in the Irish market. "Our ambition is to be the wealth manager of choice in Ireland and this is another milestone on that journey." See More: GillenMarkets, Quilter Cheviot, Quilter Cheviot Europe
Irish Independent
07-05-2025
- Business
- Irish Independent
Leading Irish investment guru Rory Gillen sells his firm to UK asset managers Quilter Cheviot
GillenMarkets has been acquired by the Irish subsidiary of Quilter Cheviot, with no financial details being disclosed. The revenues of ILTB Ltd – GillenMarkets' parent company – were just under €4m for the year to the end of March. Mr Gillen, who will be joining along with five investment advisers and their support team, said the deal had been in the pipeline for several months. 'It's a good fit, and they have the same ethos. I am no spring chicken and at a certain stage you have to decide what is the next step for yourself, and for your subscriber and client base,' the 65-year-old told the Irish Independent. 'We are relatively unique as an intermediary, in that we have eschewed the upfront commissions all the way, so we never dealt with the life companies. We have no conflicts of interest. We have 600 investment clients, with €600m assets under management.' Mr Gillen, author of Three Steps to Investment Success, was a co-founder of Merrion Capital, but left in 2009 to set up his own business. As well as giving investment classes, he created a monthly newsletter, which now has 500 do-it-yourself investors as subscribers, paying €20 a month. Berkshire Hathaway was one we always felt comfortable with His sale comes in the same week as famed investor Warren Buffett steps away from Berkshire Hathaway – which was once the biggest single holding in a €50m mixed-asset fund managed by GillenMarkets. Mr Gillen said he was always a fan of the conglomerate, as he found it easy to understand. 'You trust that the accounts are right, and that you are not going to wake up in the morning with a financial trough,' he said. 'You are fairly secure in recommending him [Buffett], as long as you understand how to value the company. I have always been a fan, and while it's not the only one, Berkshire Hathaway was one we always felt comfortable with.' A three-year earn-out period is one of the conditions attached to the acquisition by Quilter Cheviot. Mr Gillen owns almost three quarters of his company's stock, with the rest owned by Brian Delaney, formerly head of private clients at Goodbody Stockbrokers and before that head of equities for NCB Stockbrokers. Quilter Cheviot opened its Dublin office in 2003, and says it is one of the country's largest wealth-management firms, offering investment management and financial planning services. Quilter oversees about €140bn in customer investments. Andrew Fahy, chief executive of Quilter Cheviot Europe, said: 'GillenMarkets is a business that we have known and admired for many years and represents a fantastic fit for us. 'We are very excited to welcome Rory Gillen and all our new colleagues and clients to our thriving business. 'GillenMarkets has seen tremendous growth over the last number of years and we are really looking forward to working to support our new clients and their families. The transaction is really positive news for all concerned. 'This acquisition will help to build on QCE's scale and reach in the Irish market. Our ambition is to be the wealth manager of choice in Ireland and this is another milestone on that journey.' The deal is subject to regulatory approval.
RTÉ News
07-05-2025
- Business
- RTÉ News
GillenMarkets to join Quilter Cheviot Europe
Investment advisory firm GillenMarkets is to join Quilter Cheviot Europe, the Irish subsidiary of Quilter Cheviot. Founded 15 years ago by Rory Gillen, GillenMarkets provides advice for personal, pension and corporate clients. It also offers investment training services and a subscription-based newsletter for do-it-yourself investors. Quilter Cheviot's Dublin office opened in 2003 and it one of the country's largest wealth management firms offering investment management and financial planning services. Rory Gillen said that Quilter Cheviot has an excellent reputation in the Irish market and a similar investment philosophy to GillenMarkets, but with greater resources, in particular enhanced research capabilities. He said the company's investment clients will see no impact on the relationship they have with their investment adviser who, along with support staff, will continue to be the point of contact.
Business Post
07-05-2025
- Business
- Business Post
Dermot Crowley's pay packet falls below €2m as bonus payments halve over missed earnings target
Hospitality Dermot Crowley's pay packet falls below €2m as bonus payments halve over missed earnings target Fionn Thompson 13:14 Dermot Crowley, the Dalata chief executive, saw his pay packet fall below €2 million as earnings-based bonus payments nearly halved. Picture: Maxwells Business Post subscribers can read: • How Crowley's pay packet compares to previous years • What the bonus remuneration package for Dalata entails • How the company missed earning targets that underpin bonuses News Dalata Dermot Crowley Companies LATEST NEWS 13:45 Live News: Quilter Cheviot Europe acquires GillenMarkets; Low-cost carriers hit hard by US demand slump 13:36 Amazon heralds Vulcan robot as 'fundamental leap forward' as part of €700m tech investment 13:14 Dermot Crowley's pay packet falls below €2m as bonus payments halve over missed earnings target 12:58 Quilter Cheviot Europe acquires Irish investment advisory firm GillenMarkets 12:44 Waystone set to strengthen European presence with Luxembourg acquisition 12:12 Murdoch group behind FM104 and 96FM reports consecutive €2.7m pre-tax losses
