BoI high-fliers jump ship to join rival

FOUR of Bank of Ireland’s top asset management employees have jumped ship to share a €16 million windfall with an Australian-owned rival.

Sydney-based Perpetual Trustees said yesterday it hired Des Sullivan and John Nolan, two of Bank of Ireland Asset Management’s (BIAM) top four chief investment officers, as well as senior portfolio managers Richard Kelly and John Forde.

The company is to set up a Dublin headquarters for its new global equities asset management business. The office will employ 16 people and received support from IDA Ireland.