Wealth management and investment banking services Davy has opened a new dedicated office in Limerick City.
The new office on Limerick’s O’Connell Street shares a building with the Bank of Ireland branch and is led by Limerick native wealth adviser James Rael.
The office will be supported by a team of six regional wealth specialists and financial planning, tax and investment teams based in Davy’s Dublin headquarters.
Davy said the decision to open the new office is due to very strong growth in demand for its wealth management services across Limerick City and County in recent years.
It noted that its client numbers almost doubled in the area, while assets under management more than trebling over the past five years.
Growth in Limerick has significantly outpaced the wider group average over the same time, it said.
A similar trend is evident across the wider Mid-West region, with both Clare and Tipperary also recording strong growth in client numbers and assets under management since 2021.
Davy attributes the growth of its Limerick business to a combination of factors, including strong growth in high-value multi-national employment in recent years.
It noted that the average disposable income of individuals living in Limerick was the second-highest of any county in Ireland in 2024 (the most recent year for which data is available), behind only Dublin and ahead of Cork.
Meanwhile, new company registrations in the past five years numbered more than 2,000, making up close to 30% of all companies registered in the county.
James Rael, who leads Davy’s Limerick office, said that Limerick is rapidly growing as an exciting hub for business, as demonstrated by the significant growth in new businesses and new Davy clients.