DC Advisory is the corporate finance arm of Daiwa Securities Group, Japan's second-largest brokering and investment bank. The acquisition of IBI is part of Daiwa's plan to increase global M&A revenue by 50% over the next eight years and it now has nearly 700 M&A bankers in 23 locations worldwide.
IBI was established in 1966 and was originally a joint venture between Bank of Ireland, Morgan Grenfell and Schroders and latterly as a wholly-owned subsidiary of Bank of Ireland. It was subsequently acquired by its existing shareholders as part of a management buy-out in 2017.
The cross-border Simmons & Simmons team was led by Corporate partners David Brangam (Dublin) and Jason Daniel (London) with assistance from Martin Phelan, Christine Quigley and Harry McCarthy (Dublin).
Commenting on the deal, David Brangam said "It has been a pleasure working with the DC team on this exciting expansion into Ireland as they continue to expand their global offering".