Cantor Fitzgerald buys Irish brokerage Dolmen
LONDON Dec 3 (Reuters) - US investment firm Cantor FitzGerald has acquired Irish stockbroking company Dolmen, it said on Monday, with plans to create 30 new jobs and giving a boost to the Irish bourse since the departure of some of its main listings.
Under the new ownership Dolmen, one of Ireland's largest independent stockbrokers with a current staff of 90, will become a primary dealer in Irish government bonds, meaning it will sell debt to international investors.
"We do plan on becoming a primary dealer in government debt in Ireland, that is certainly our intent ... our intent is to become a much bigger fixed income player than Dolmen was," Cantor Fitzgerald's chief executive Shawn Matthews told national broadcaster RTE.
CRH, Elan, Greencore and United Drug have all switched their primary listings from Dublin following the country's financial malaise, although CRH and Elan still maintain a secondary listing in Dublin.
The deal for Dolmen, which will create the new jobs over a two-year period, comes as Ireland's economy continues to rebound from the financial crisis and pull free from its 85 billion euro ($110.55 billion) EU/IMF bailout programme.
Ireland also welcomed more multinational investment on Monday as U.S. computer file-sharing firm Dropbox announced plans to establish its international operation centre in Dublin, creating between 30 and 40 jobs next year.