Davy has appointed of Donough Kilmurray as Chief Investment Officer of its wealth management division. He joins from Goldman Sachs in London where he headed that firm’s Investment Strategy group.
Employing over 700 staff, Davy is Ireland’s leading provider of wealth management services and is the only Irish-owned wealth manager of scale, having over €14 billion of assets under management.
Reporting to Brian McKiernan, Davy’s chief executive, Davy says that Kilmurray (pictured) will have overall responsibility for Davy’s wealth management portfolios, encompassing asset allocation, manager selection and portfolio construction.
Kilmurray will work alongside Pat Cooney, Group Head of Private Clients, who leads all client-facing wealth management activities at Davy and also oversees Davy’s Northern Ireland operations.
At Goldman Sachs, Kilmurray was responsible for advising clients and overseeing client portfolios in the Private Wealth Management division across Europe, the Middle East and Africa.
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He joined Goldman Sachs in New York in 2000, working in investment research and strategy. He moved to London in 2002 and became a managing director in 2008. The new Davy hire has a PhD in Mathematics and an MS in Finance from the University of Illinois at Urbana-Champaign. He graduated from UCD with an MSc in Mathematics in 1993.
Davy’s recent senior hires include former AIB boss Bernard Byrne as Head of Capital Markets, Caitríona O’Kelly (ex Deutsche Bank UK) as Chief Financial Officer and Orla Graham (ex Deloitte) as Chief People Officer. In 2018, Cathal Sheridan joined as Chief Operating Officer from PaddyPower Betfair.
Since 2012, Davy has adopted a parallel organic and acquisition led growth strategy that is focussed on increasing market share and accessing new markets. There have been nine acquisitions in Ireland and N.Ireland including Bloxham, Prescient, Squareseven and Danske Bank UK’s discretionary portfolio management wealth business. The company recently received regulatory approval for its acquisition of a 50% stake in Metis Ireland.
