Clients transferred to Davy after closure

Clients of Ireland’s oldest stockbroking firm, Bloxham, have become customers of Davy Stockbrokers with immediate effect after the Central bank ordered Bloxham to cease trading.

Bloxham employed 60 staff and handled portfolios for 17,000 clients, valued at over €580m until Friday evening, when it was found the broker did not have the €5.8m in capital reserves required by the regulators to operate as a stockbroker in the Irish financial market.

In a statement yesterday, the Central Bank said the clients of Bloxham had been transferred to Davy with immediate effect.