Staff at Goodbody Stockbrokers double their shareholding in the firm

It played a key-role in a number of major corporate deals last year

It is reported this morning that the management and staff at one of the country’s largest stockbroking and financial services firms, Goodbody, have doubled their shareholding in the firm to 49% since 2011.

That was the year the Kerry-based financial services firm, Fexco acquired the 75% stake owned by AIB in Goodbody for €24m.

According to The Irish Times the increased staff shareholding is understood to reflect the triggering of their incentive targets by a strong recovery in the scale and value of share trading, wealth management and corporate finance activity.

Goodbody was centrally involved in a number of corporate deals last year including the stock market flotations of building company Cairn; forecourts company, Applegreen; and the acquisition by IAG of Aer Lingus. These deals are expected to be less common in 2016 as the global economy remains volatile.

Staff numbers at Goodbody have increased to 320 from a low point of about 210 when workers were made redundant after the Fexco takeover.