DFP Group acquire two new financial services firms

Pictured at the announcement of the deal are: Aoife McCarthy, director, DFP Group; Michael Bollard, managing director, Bollard Financial Services; Eoin Doohan, group managing director, DFP; and Brendan Nordon, group actuary DFP.

Dundalk-based DFP Group, one of the north east’s largest pension and investment consultants recently announced the acquisition of Bollard Financial Services and Doody Crowley Financial Services in Dublin.

Both Bollard Financial Services and Doody Crowley Financial Services are long established financial advisory firms with over 25 years’ experience advising both private clients and companies in all aspects of investment and retirement planning. These acquisitions further strengthen the DFP Group’s commercial footprint within the greater Leinster region.

Eunan O’Carroll of Core Consulting who managed the deal for the Quayside Business Park-based DFP Group said: “This deal represents a win-win situation for all firms involved. Given the likely changes to the business model as a result of pending regulation and the changing commercial focus of the larger product providers, financial advisory firms will require significant investment is systems and resources, if they are going to transition their business to the new model advisor approach that will emerge in the next two years.”

Commenting on the acquisition to Business and Finance, Eoin Doohan, group managing director of DFP Group said: “We are delighted to welcome Bollard Financial Services and Doody Crowley Financial Services as part of the DFP Group. These are strategic acquisitions on our part and they will ensure we remain one of the leading independent financial advisory practices within the Irish market with combined assets under management in excess of €175m.”

Michael Bollard, a well-known financial services practitioner in Dublin for many years and director of Bollard Financial Services said: “This deal further strengthens our capacity to deliver a highly professional financial advisory services to all our clients and ensure we are best placed to deal with the changing market dynamic that will emerge in the future as a result of further European regulation enforcement.”

Bollard Financial Services will now be rebranded as BFS Pension & Investment Consultants and trade under the DFP Group of companies.

PayPal announce 400 new jobs for Dundalk

Online payments company, PayPal, is creating 400 jobs over the next four years at its European operations centre in Dundalk, the company announced at a press conference in Dublin’s Shelbourne Hotel this morning.

The positions will be in telesales, merchant services, cost solutions, operational excellence and risk operations.

The roles are due to be in place by 2018, bringing PayPal’s total Irish workforce to 2,900 by 2018. The total employed by PayPal and its sister company eBay in Dundalk will rise to 1,850 once all 400 jobs come on stream, with this morning’s announcement in addition to the 1,000 positions announced by the company when it first moved here two years ago.

The roles are primarily English speaking, although there are a number of other language opportunities also.

“This is great news for Dundalk and the north east region,” said Louise Phelan, vice president of global operations for Europe.

“Dundalk is a very important site in our global operations for supporting our customers. We are already ahead of schedule in recruiting our first 1,000 teammates, thanks to our continued expansion, together with the high-calibre people we have already employed.

“We have been delighted to be able to make a very positive impact on the lives of so many people in the area, both through our community activities and by virtue of the jobs we create, which have taken so many unemployed people off the local live register.”

Phelan also claimed that “almost 1,000 indirect ‘spin-off’ jobs” could be created in other local businesses as a result of the substantial investment, which has been supported by the Department of Jobs through IDA Ireland.

Making the announcement, Taoiseach Enda Kenny said: During my recent visit to Silicon Valley, I had the opportunity to meet with the CEO of eBay Inc to discuss their ongoing investments and to offer the Government’s support for increased expansion into Ireland. This PayPal announcement further enhances Ireland’s reputation as a prime location for global businesses and is a tribute to our talented and flexible workforce.

Jobs Minister Richard Bruton said: “Louise Phelan and PayPal Ireland are a standout example of a phenomenon we are seeing more and more of in recent years – an Irish operation within a multinational, under strong leadership, becoming more strategically important within global operations and winning new investment and jobs for Ireland”.

Local TD Peter Fitzpatrick described this morning’s announcement as “a great boost for Dundalk.”

The first employees started working at PayPal at the Xerox Technology Park on July 2nd 2012, with numbers employed there having grown rapidly since then between it and its sister company eBay.

You can check out vacancies at the company here.

IDA Ireland’s Barry O’Leary, Minister for Jobs Richard Bruton, Louise Phelan of PayPal, Taoiseach Enda Kenny and Minister for Public Expenditure and Reform Brendan Howlin at today’s jobs announcement

IDA Ireland launch Connect and Invest – Dundalk

IDA Ireland yesterday launched ‘Connect and Invest – Dundalk’, the sixth phase of its digital marketing initiative for attracting inward investment by highlighting the specific attributes of individual regional urban centres.

‘Connect and Invest – Dundalk’ is an interactive experience designed for use on tablet, smartphone and PC.  Information on location, education, lifestyle and existing IDA and indigenous companies is provided through rich images, video and text and will be continuously updated.  The website allows IDA executives to showcase Dundalk in face-to-face client meetings.

Dundalk and the North East Region have a strong cluster of international business services, including eBay, Coca-Cola, National Pen, International Fund Services and Liberty Mutual. It also has a wide range of companies in the manufacturing sector including Cargotec, Becton Dickinson, CG Power Systems, Wellman, Bose Abbot and Heinz.  These international brands are an attraction for additional companies to potentially locate to the North East.

The North East also has a vibrant cluster of indigenous companies including Hilton Foods, HJ Heinz, Glanbia, Irish Cement and Glen Dimplex in Louth, Rye Valley Foods, Monaghan Mushrooms, Silver Hill Foods Ltd and McArees Engineering Works in Monaghan and Carton Bros Ltd, Liffey Meats, Abbott Laboratories and Quinn Packaging Ltd in Cavan.

Commenting on the launch Breda O’Toole, Regional Business Development Manager, IDA Ireland said  “Connect and Invest – Dundalk’ is an innovative digital marketing application that showcases the North East at its best.

“The excellent infrastructure and close proximity to Dublin, coupled with the brand names in the International Business Services, Engineering & ICT and indigenous industries, provides the North East with a strong value proposition for clients.  This new marketing tool will greatly assist us in conveying to clients all that the region has to offer. IDA looks forward to continuing to work closely with its partners in the region to promote the location as an attractive place for inward investment and job creation opportunities.”

Adams to raise Narrow Water Bridge issue with the Taoiseach

An artist’s impression of the Narrow Water Bridge

Local TD Gerry Adams has given a cautious welcome to indications that the Taoiseach may be prepared to financially support the Narrow Water Bridge project and says he intends to raise the issue with the Taoiseach next week in the Dáil.

Newspaper reports earlier this week suggested that Enda Kenny might be willing to finance the bridge, which would link Warrenpoint and Omeath, in 2015.

However, Sinn Féin president Adams said he was cautious about whether or not this supposed commitment was simply a pre-election promise or something set in stone.

He said: “I have raised the importance of constructing the Narrow Water Bridge with the Taoiseach on many occasions in the Dáil and while he has always sounded a positive note regrettably it was his government that failed to provide the financial investment needed to supplement the funding from local councils and the European Union.

“At last November’s meeting of the North-South Ministerial Council Ministers there was unanimous support for the Narrow Water Bridge project.

“It also has the support of all the parties in county Louth, south Down and south Armagh.

“The bridge can be a massive economic driver for the region from Slieve Gullion to the Cooley’s and to the Mournes.

“The government has acknowledged that it is the border counties that record the highest rates of disadvantage across a number of indicators.

“The construction of the Narrow Water bridge is a real opportunity to tackle this disadvantage.

“The Taoiseach has said he backs the bridge project. Fine Gael now says that Mr. Kenny is ready to support the project in the next round of funding from the Special European Programme Body. I intend raising this matter with the Taoiseach next week in the Dáil.

“The people of Louth and South Down and south Armagh want firm commitments not pre-election promises that may now be delivered later.”

Prominent town centre properties up for sale

The building on the Market Square currently has three stores all occupied

A prominent investment building on Dundalk’s Market Square has gone on the market with local estate agents Sherry FitzGerald Carroll for €240,000.

The building – which currently houses The Works Barbers, Barry’s Coffee Shop and Fone XChange – extends to c.242 square metres and contains three individual lock up units together with an overhead apartment.

Meanwhile, a site off both Earl Street and the Market Square has also gone on the market with DNG Duffy estate agents for €25,000.

The land, which is accessed via a turn-off from the Market Square behind Wallace’s Seed Shop, measures 85 square metres and is suitable for parking.

The site for sale off the Market Square and Earl Street

Meeting planned for Ardee aimed at gathering support for Dunleer Train Station to reopen

Dunleer Railway Station was closed by CIE in 1984

The Dunleer Mid-Louth Railway Station re-opening committee will hold their next public meeting in Ardee on Monday April 7^th at 7.30pm.

This will be open to all members of the public interested in helping a campaign to re-open the railway station in Dunleer.

Earlier this month a committee was formed aimed at reopening the station, which was closed 30 years ago in 1984.It includes local representatives including Louth TD Peter Fitzpatrick and councillors Frank Godfrey, Finnan McCoy, Dolores Minogue, Pearse McGeough and Colm Markey.

Castletown Road take away up for sale

The New Great Wall Chinese take-away on the Castletown Road has gone on the market recently with estate agents Property Partners Laurence Gunne.

The investment property is for sale for €100,000 although the current tenants will not be effected.

For further details call the estate agents on 042 9334414.

Committee formed aimed at reopening Dunleer Train Station

The Dunleer Train Station committee

A committee was formed earlier this week in Dunleer, aimed at reopening the town’s train station.

The station has been closed for 30 years but there has been strong calls over the years for it to be reopened.

A meeting was held in The Grove House in Dunleer on Monday night to discuss the reopening of the station, with around 60 attending.

Following the meeting, a committee was formed to lead a campaign for the station’s reopening. It includes local representatives including Louth TD Peter Fitzpatrick and councillors Frank Godfrey, Finnan McCoy, Dolores Minogue, Pearse McGeough and Colm Markey.

In a statement earlier this week, Irish Rail said reopening the station is not in its current investment plan and it does not feature in the current programme for government.

A spokesperson said the only option would be a developer-led initiative but this would have to be subject to a business case being put forward.

Local TD Fitzpatrick said it was now up to committee and people of the town to show there is a strong demand for the station.

Dunleer Railway Station was closed by CIE in 1984