IBI Corporate Finance has acquired a 50 percent stake in a Dublin-based mergers and acquisitions (M&A) advisor, Broker Exchange Ireland (BXI).
This is the first transaction completed by IBI since the completion of a management buyout from Bank of Ireland in 2017.
Founded in 2019, BXI advises on transactions between brokers working in the insurance and wealth management sectors.
Tom Godfrey, President and CEO of IBI Corporate Finance, said the traditional world of insurance and wealth management brokers is going through a period of consolidation and rapid change.
“There have been some high profile historical transactions in the high end of the financial services market and in particular in the wealth management and insurance sectors in recent years, but brokers in the smaller segment of the market are suffering. a similar process, “he said.
“The costs of regulation and compliance are increasing dramatically, many small brokers with owner-managers are looking to exit the market and you have a new generation of Irish and international players looking to bring diverse parties together to increase their market share and take advantage of greater economies of scale, “he said.
“We believe there will be a significant volume of transactions in this sector over the remainder of the decade and we are delighted to support BXI which has extensive experience and relationships in the broker market,” he said. declared.