Rabodirect takes newcomer prize at finance awards

Newcomer to the Irish market Rabodirect and old timer Permanent TSB were among the 17 award winners at yesterday's MoneyMate and Investor magazine Awards in Dublin.

Rabodirect, the Dutch bank which attracted almost €50 million in deposits from Irish savers in its first month in the market, won two awards, one for best newcomer and a second for best financial advertising campaign.

Permanent TSB and Eagle Star Life also both won two accolades, with Permanent TSB picking up awards for best new product and best mortgage provider. Earlier this week, the lender said it had advanced €6.3 billion in new mortgages last year. Eagle Star was named best investment fund manager and insurance adviser of the year.

Clare McAndrew, editor of Investor magazine and chair of the judging panel, which included financial journalists and industry experts, said the standard of entries was "extremely high" and described it as a testament to the quality of financial services on offer in Ireland.

"The winners today are the leaders in their fields, developing financial products and providing a service which offers customers the best option for their money, along with quality advice," she said.

Other award winners were REA Mortgage Choice, which was named residential mortgage broker of the year, and Delta Index, which won in the share-trading company of the year category. AIB Yield Focus won the best balanced pension fund category, while New Ireland Evergreen Fund was awarded the best balanced managed investment fund accolade.

EU commissioner Charlie McCreevy was named investment personality of the year, beating finance minister Brian Cowen, founding director of Merrion Capital Rory Gillen and property developer Seán Dunne.

National Irish Bank won the Investor magazine readers' choice award for best financial institution, while Merrion Capital was named stockbroker of the year. Friends First was named as the property investment company of the year, while Irish Life Investment Managers was named as the best pension fund manager.

MacCourt Financial Planning won the pension and investments advisor category and Mark O'Byrne was named as analyst of the year.

The awards were presented at a ceremony in Dublin's Burlington Hotel attended by about 400 guests. Entrants were assessed on criteria including innovation, value for money, transparency and customer service.