FTI Finance, a specialist financial consultancy group, based in the IFSC, has been acquired by the minority shareholders for an undisclosed sum in a management buy-out. The company is now owned by the management team managing director Mr Aengus Murphy and executive directors Mr Michael Delaney, Mr Eddie Fogarty, Mr Pat Leavy and Mr John Moriarty - who had owned a minority 20 per cent stake since the company was established in 1988. The balance was purchased from ESB International. The consideration, said FTI, was based on "an independent evaluation of the business".
FTI generates an annual fee income of almost £3 million which has been growing. Net assets are in excess of £500,000 and the company employs 30 people. FTI has four main areas of business: advising corporate treasuries; financial advisory services for international projects; large public sector projects; and the management of multinational corporate treasuries.
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