Former Irish Nationwide chairman Michael Walsh, who rather dropped off the planet since the building society imploded under the leadership of Michael Fingleton, has invested some money into Brian McCarthy’s corporate forex de-risker Assure Hedge.
Walsh was censured for his role in the collapse of the building society, landing a three-year ban from managing any regulated financial services entity. I hear that his three-year ban ended in February.
Former derivatives trader McCarthy did a €5 million funding round in June to expand Assure Hedge. It doubled the number of clients using its forex hedging product last year and was valued at €30 million at the time of the new funding.
Other investors in the business include biotech entrepreneur Cormac Kilty, who sold his Biotrin firm