AIB purchase of Investec Ireland could point way forward

Planned sale of Investec Ireland to regulated bank in EU may help tackle Brexit challenges

AIB is looking to acquire further wealth management assets as the industry prepares for a wave of consolidation. Photograph: Paul McErlane

AIB is looking to acquire further wealth management assets as the industry prepares for a wave of consolidation. Photograph: Paul McErlane

AIB, which is in advanced talks to buy investment and stockbroking firm Investec Ireland, is understood to be planning to use the deal as a launchpad to acquire further wealth management assets as the industry prepares for a wave of consolidation in the coming years.

The Investec Group, founded in South Africa but headquartered in London, has been being advised by London-Fenchurch Advisory Partners as it received a number of inquiries about the Irish business in recent months, according to sources.

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