The transaction is subject to regulatory approval, Investec said in a statement last week.

Domestically, Investec Ireland provides treasury products to Irish companies, and is located out of Dublin.

NCB is described as having “a significant presence in corporate finance, wealth management and capital markets”. Established by Dermot Desmond in the early 1980s the firm employs 120 people, providing services to a client base of Irish and internationally-based corporate customers, high-net worth clients and institutional investors.  NCB has approximately €1.3 billion (around $1.7 billion) of private client funds under management.