First National Building Society has appointed Davy as the Irish stockbroker for its proposed flotation while ABN Amro Hoare Govett will be the society's corporate finance advisers. Hoare Govett is expected to act as broker in Britain but no appointment has yet been announced.

First National has recruited Ms Brigid Ryan from the Central Bank to become its head of compliance and a member of its group projects team. The building society has started the process of arranging conversion from a mutual society into a publicly-quoted company.