Garry exits as Davy CEO

Tony Garry is to step down as head of Davy Stockbrokers, in March, after 20 years in the role.

The company formally announced the move, yesterday, which will see Mr Garry succeeded by Brian McKiernan, who heads Davy’s wealth and asset management division.

“The board of Davy is very pleased that the firm’s leadership will transition in a very seamless manner from one exceptional leader to another.

“Davy has been transformed under Tony’s steady hand. His most notable achievement has been to grow and enhance the business throughout the worst recession in living memory; adding staff, services, new offices (in London, Belfast Cork and Galway) as well as acquiring three complementary businesses and launching the Davy Select online pension and investment platform,” group chairman, Brian Davy said.

Mr Garry joined Davy in 1979, after 10 years in the public and private sector working for the old Department of Labour and the Central Bank in the late 1960s before moving to AIB in the mid 1970s, where he became associate director prior to his switch to Davy.

His initial time with Davy saw him working on the bond desk and sourcing European buyers of government debt at a time when the government faced major challenges in funding its deficit. He became CEO of the firm in 1995.

“I have been fortunate to lead a truly dynamic team at Davy over the last 20 years but I believe now is the correct time to hand over to Brian and to move on to the next phase in my life.

“It has been an extraordinary and positive journey for me at Davy and I have been privileged to have been part of what is truly an “institution” in the Irish market for the last 35 years,” Mr Garry said.

Commenting on his promotion, yesterday, Mr McKiernan said he was honoured to be asked to lead Davy forward.

“We have exciting plans for Davy and by placing our clients at the centre of what we do, I am confident that Davy will continue to grow and prosper,” he said.