Cork broker Global Life & Finance acquired by Tipperary-headquartered SYS Group

Latest deal by SYS will see its total assets under management surpass €500m

(L-R) Global Life & Finance CEO, Seamus Fox, with SYS Group CEO, Tony Delaney, in Cork at the announcement of SYS Group’s acquisition of Global Life & Finance.

Tipperary financial services firm SYS Group has announced its acquisition of Cork-based Global Life & Finance for an undisclosed amount. 

Founded in 2000 in Cork city, the long-standing financial broker was founded by its current chief executive, Seamus Fox. The company has €100m in assets under management with more than 1,000 clients across Cork, Kerry, Waterford, Limerick and Galway. 

The deal will bring overall assets managed by SYS to more than €500m, the Tipperary firm said, with its customer base set to grow to 8,500. It marks the latest acquisition for the Nenagh-based group which has expanded significantly over the past twelve months.

The group's overall assets under management have grown by nearly €200m in the year following the acquisition of Dublin-based Donald P McKenna & Associates and PGM Financial Services, among others. 

SYS said Mr Fox would continue to be "heavily involved" in regular client activity as he moves into a senior role in the group, with the firm's employee base rising to 58 following the transaction.

SYS Group was founded in 2015 by its current CEO, Tony Delaney and has since opened offices across Dublin, Cork and Waterford as well as its headquarters in Nenagh, Tipperary.

Speaking on the acquisition, Mr Delaney said: "Not only is this acquisition an excellent fit for SYS Group in terms of culture, strategy, and client portfolio, it will enable us to continue to build upon our position in the Irish market. 

"I am also very pleased that Seamus will be joining the SYS Group team, as his expertise is unparalleled, and he is very highly regarded within the industry. We all look forward to working with him.”

Mr Fox added that he believed the acquisition would "help to ensure we can uphold our commitment to delivering top-tier services to our clients whilst leveraging SYS Group’s scale, expertise, additional services and wider solutions.”