Kyran McLaughlin, Davy’s deputy chairman, said Mehigan communicated his plans to the broker some time ago. “We’re sorry to see him go, Roc’s been an important member of the team. He’s decided it’s time for a change, which is understandable after such a long time here.”
Mehigan is highly regarded among the stockbroking community and his departure has surprised his counterparts at other firms. His arrival at First New York will bolster a team that already includes Jack Carney, a former Davy equity sales trader, and Pat O’Neill, a former head of institutional equities at Merrion Stockbrokers.
First New York was founded in 1985 in New York and employs 150 traders worldwide.
Davy is broker to eight of the top 10 companies on the Irish stock market and acts for buyers and sellers of up to 45% of the share deals on the market.