Davy’s Tony Garry predicts his own future

Regime change at the brokerage is the one certainty for 2015

On Garry’s mind: Co Clare in 2015?

On Garry’s mind: Co Clare in 2015?

 

Wednesday was the last big media outing for the outgoing chief executive of Davy stockbrokers. Tony Garry hosted the “Davy on 2015” Mystic Meg session with journalists to predict where the Irish economy might go next year.

Garry will depart Davy in March, giving him plenty of time to rev himself up for another tilt by his beloved Clare at the All-Ireland hurling championship. The Davy briefing, alas, made no predictions on who might win the Liam McCarthy Cup in 2015.

Garry’s designated replacement is Brian McKiernan, the current head of wealth management, who said he is looking forward to taking the reins at the brokerage. As well he might, if the economy does as well as Davy expects it to next year.

Chief economist Conall MacCoille predicts GDP growth of 4 per cent, although he warned that some economists had recently shifted from “irrational pessimism” to “irrational exuberance”. The common theme is irrationality among dismal scientists. Unlike some of Ireland’s more excitable economists, Davy’s man was measured enough.

MacCoille, the son of RTÉ Radio’s Cathal MacCoille, said 2015 should see “the return of the crane to Dublin’s skyline” as the construction sector recovers. He also suggested that construction sector wages need to be cut further.

Those who reside at the other big landmark on Dublin skyline, Siptu’s Liberty Hall, will likely have something to say about that.

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