Jack Quann
Jack Quann

13.14 14 Nov 2019


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The Bank of China looks set to buy the Irish stockbroker firm Goodbody.

According to documents posted by the Competition and Consumer Protection Commission (CCPC), the sale will be carried out by the by Bank Of China (UK).

This would see them take sole control of GANMAC Holdings (BVI), Goodbody's parent firm.

Goodbody has offices in Dublin, London, Cork, Galway and Kerry.

Bank of China is described as a "full service bank" offering retail, corporate and trade finance services in the UK.

It also has a Dublin branch, which opened back in 2017.

It provides retail banking services including current accounts, savings accounts, and debit and credit cards.

Bank of China (UK) Ltd is a wholly owned subsidiary of Bank of China.

GANMAC Holdings is a holding company which owns the Goodbody Group.

Goodbody Taoiseach Leo Varadkar helps open Bank of China's Dublin branch in June 2017 | Image: Supplied

The Goodbody Group is active in wealth management, investment fund management, investment banking and asset management in the State.

The CCPC says a "preliminary investigation" into the sale is currently in phase one.

Goodbody is majority owned by Kerry-based foreign exchange provider, Fexco, since 2010.

The company story started back in Mountmellick, Co Laois in the early 19th century.

Here, the Goodbody family was part of the Quaker community.

In 1807, one of them - Robert Goodbody - married into the Pim family who were successful investors in shipping, insurance, banking, mining and railways.

He then set up a milling business in Clara, Co Offaly - and his five surviving sons would go on to set up their own businesses.

One of them, Marcus, married Hannah Perry - daughter of successful businessman James Perry - who had invested well in a number of businesses including iron, railways and brewing.

Hannah inherited her father's estate in 1858.

Marcus and Hannah's first child, also named Robert, would go on to found the Goodbody stockbroking business.


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Bank Of China Bank Of China UK CCPC Co Laois Competition And Consumer Protection Commission Dublin Branch Fexco GANMAC Holdings Goodbody Goodbody Group Goodbody Stockbrokers Goodbody Stockbroking Mountmellick

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