Davy appoints new head of corporate finance

ONE MORE THING:AFTER 21 YEARS with the stockbroker, corporate financier Ivan Murphy has come of age, so to speak, at Davy. Murphy this week landed the plum role of head of corporate finance at Davy. He replaces Hugh McCutcheon, who stepped down last November.

Murphy’s selection followed a four-month trawl, both nationally and overseas, including other internal candidates.

Murphy joined Davy in 1991, having previously held a corporate advisory role with Kleinwort Benson in London. He has been busy of late, advising the State on strategic options regarding the upcoming National Lottery licence, and the board of Readymix in connection with a takeover offer by Mexico’s Cemex Group, which already owns a majority share of the Irish business.

Davy is also advising business support group Siteserv, which is the subject of a Denis O’Brien-backed takeover proposal.

In the recent past, Murphy advised Azur Pharma on its $580 million merger with Jazz Pharmaceuticals, and the Government’s recapitalisation of Irish Life Permanent.

He also advised on the €2.6 billion acquisition of Eircom by Australian investment group Babcock Brown Capital. There would be mixed views around town about the merits of that deal.