IT’S A CASE of keeping it in the family in relation to a recently-revived €75 million construction project at the NUI Galway university campus.
Work has resumed on a number of projects at NUIG after construction was stalled last year following the appointment of a receiver to Michael McNamara Co, the main contractor owned by developer Bernard McNamara.
The project has now been taken over by Galway-based contractor JJ Rhatigan Co. The company’s managing director is Padraic Rhatigan, whose wife happens to be a sister of Bernie Mc.
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WHILE SOME investment firms here are in retrenchment mode, Donal Roche is expanding his team at Covestone Asset Management.
Coming in as head of business development is Chris Curran, who was recently director of global distribution with the spread trading company Delta Index. Curran has been involved in the investment industry for the guts of 20 years and previously worked for Zurich Life and Bank of Ireland Private Banking.
Also joining Covestone is Patrizia Libotte, who previously worked as a portfolio manager with Pioneer Investments, the UniCredit subsidiary in Dublin. Libotte managed fixed-income products there.
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THE IRISH Greyhound Board appears to be back on form. The semi-state increased its cash surplus last year by 7.6 per cent to €3.15 million while attendances at its own tracks sprinted ahead by 7 per cent to 542,559. In particular, its restaurants are proving a hit with customers.
This year it plans to spend just under €500,000 upgrading its stadiums and increasing prize money by 3.5 per cent. Another €1.1 million has been earmarked for two stadium developments that will be announced later in the year.
“We were delighted with the results from last year but this year is going to be another challenge,” chief executive Adrian Neilan told me. “We will continue to focus on costs and there’ll be more targeted marketing and more value-led customer packages.”
