The owner of Irish Life, Great-West, has created a new wealth management company called Unio, combining its Irish brands Invesco, Acumen, and APT. With €14bn in management, Unio is immediately on par with the two biggest wealth managers in the country, Davy and Goodbody. This move will significantly affect AIB, given that its joint venture partner Irish Life is now a direct competitor with Goodbody’s stockbroking and wealth management.
Unio is headquartered in Dublin with offices in Cork and Limerick, employing a total of 250 people—130 of which are focused on personal clients. The company is determined to grow assets under management to €20bn by 2027, aiming to work with entrepreneurs, business owners, SMEs, professional services, multinationals, and indigenous companies alike.
The firm is led by Des McGarry, formerly the managing director and founder of Invesco. Miceál Gunning, who previously held the same position at Invesco, is now Unio’s head of private clients. Gunning expressed his desire to “demystify wealth and investment”, noting that this generation is in the midst of a historic wealth transfer. He also clarified that the goal of the company is not to take clients away from other wealth management firms, but rather to engage the few people in Ireland who are taking financial advice.
