ONE MORE THING:AFTER MORE than 20 years (save for a short spell at ABN Amro) with Davy, its corporate finance chief Hugh McCutcheon has decided to call time on his career at the stockbroker.
He is expected to be appointed to the board of Origin Enterprises (a spin-out from food group Arytza) at its agm on Monday.
I’m told McCutcheon, who has led Davy’s corporate finance arm since 2001, will concentrate on this and other non-executive roles. He is also expected to retain his shares in Davy. McCutcheon was part of the €316.55 million buyout of Bank of Ireland’s 90.44 per cent stake in 2006.
McCutcheon operated below the media radar but was at the heart of a number of high-profile transactions in the heyday of the Celtic Tiger. These included the takeover of e-learning company Riverdeep, the demerger of glass maker Ardagh and rights issues for Bank of Ireland and Independent News Media.
Such mandates are thin on the ground these days but it remains a plum post. Some of his colleagues – Des Carville, John Frain, Ivan Murphy and Eugenée Mulhern – will no doubt throw their hats in the ring – but don’t rule out an external appointment.
