Limerick client numbers nearly double and assets under management more than treble as investment firm Davy opens new office on O’Connell Street.
Davy has expanded its presence in the Mid-West with the opening of a new dedicated office in Limerick city, citing strong growth in demand for wealth management services across the region.
The new office at 125 O’Connell Street, which shares a building with the local Bank of Ireland branch, will be led by Limerick native and wealth adviser James Rael.
“Limerick is rapidly growing as an exciting hub for business, as demonstrated by the significant growth in new businesses and new Davy clients”
The operation will be supported by six regional wealth specialists, alongside financial planning, tax and investment teams based at Davy’s Dublin headquarters.
The investment follows a sustained period of growth for Davy’s wealth management business in Limerick and the wider Mid-West.
Over the past five years, client numbers in Limerick have almost doubled, while assets under management have more than trebled. According to the firm, growth in the region has significantly exceeded the wider group average during the same period.
Mid-West momentum
Davy said similar momentum has been recorded across Clare and Tipperary, where both client numbers and assets under management have risen strongly since 2021.
The firm attributes the expansion to several factors, including the continued growth of multinational employment across the region and increasing levels of personal wealth.
According to Davy, Limerick recorded the second-highest average disposable income of any county in Ireland in 2024, behind only Dublin and ahead of Cork.
The region is also home to an established base of approximately 70 Irish-owned businesses of scale, with manufacturing, construction, wholesale and services among the dominant sectors.
Business formation has also remained strong. More than 2,000 companies have been registered in Limerick over the past five years, accounting for close to 30% of all companies registered in the county.
Commenting on the launch of the new office, James Rael, who leads Davy’s Limerick operation, said the move strengthens Davy’s footprint outside Dublin and reflects growing demand for wealth management and investment services among business owners, professionals and high-net-worth individuals across the Mid-West.
“Limerick is rapidly growing as an exciting hub for business, as demonstrated by the significant growth in new businesses and new Davy clients.
“We’re delighted to officially open our new office to service Limerick and the wider Mid-West region. We expect that this will only continue to grow in strength in the coming years.”
Top image: Davy Limerick lead and wealth adviser James Rael
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