Stockbroking firm NCB has received regulatory approval for a London branch that it expects will double or triple the firm's turnover within three years.
The new branch was approved by the Financial Services Authority (FSA) on Wednesday and can begin to sell equities immediately.
The operation has been in development over the past nine months and was approved by the Irish Financial Services Regulatory Authority just before Christmas.
NCB is the first Irish stockbroker to establish a branch in London. The firm will be selling European stocks, including Irish shares, to British investors.
It will also be researching British stocks and selling them to investors from the Republic and other parts of Europe. The broker will focus on institutions rather than private clients.
NCB is the Irish member of the ESN network of independent brokers and will now take over the UK membership from Teather & Greenwood.
NCB's London office is headed by Mr Jonathan Cooke, who was previously head of UK equity sales with DrKW.
Former Teather & Greenwood technical analyst, Mr Richard Crossley, will also hold a senior position.
NCB has hired eight staff for the London operation, which is on the edge of the city. The broker hopes to raise this number to 16 as it establishes the business.
