US securities firm Cantor Fitzgerald has completed the long-mooted takeover of Irish stockbroker Dolmen. It plans to create at least jobs and intends applying to be a primary dealer in Irish government debt.

The amount paid for the Irish broker has not been disclosed. The others to benefit from the deal are director Paul McGowan; Garrett Kelleher, a shareholder and property developer whose bank debts are in the National Asset Management Agency; and 10 staff.

I can see us adding at least people over the next year. Dolmen still lags rival stockbroking firms Davy and Goodbody in bond trading and general stockbroking business. The firm lost of the staff in its Manhattan offices that day. The acquisition is the latest development in a stockbroking market that has undergone major consolidation in recent years following a heavy fall in share trading during the crash.

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Cantor buys Dolmen Stockbrokers

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