New firms first among equals

Has "first" become the new buzzword, a word that must be in the name of ambitious and expanding companies? Or could it be a signal…

Has "first" become the new buzzword, a word that must be in the name of ambitious and expanding companies? Or could it be a signal that the "first" companies are already planning to merge further down the road.

Hot on the heels of the launch of First Active on the stock market, comes First Ireland Risk Management. It joins the other "firsts" offering products or services - from First Call Direct through First Choice, First Equity, First Ireland Spirits. . . to First Rate Bureau de Change.

An Taoiseach, Mr Ahern, last week launched the name change by ambitious and fast-growing insurance brokers, Rooney Gallagher, now known as First Ireland Risk Management (FIRM).

Managing director John Roe says the name change signals its ambitions to grow and emphasises its Irish ownership. With an annual turnover of £16 million and with 50 employees, the brokers claim to be one of the largest Irish-owned commercial brokers in the market.

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Often at these launches invited guests will get a token bearing the new name - a pen or umbrella perhaps. But First Ireland used the opportunity to ensure its guests were in no doubt about its ambitious plans.

Guests got parchment promissory share certificates - each guest will be able to claim 10 free FIRM shares when - not if - the company goes public.