AIB is buying Goodbody stockbrokers for 138 million euro.
Goodbody, which is 51% owned by Killorglin-based FEXCO, manages assets of around 8 billion euro and employs 300 people in offices across Ireland and the UK.
It will remain as a separately regulated entity with its own brand and board.
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AIB will continue to adhere to the Government's pay restrictions, with separate remuneration structures in place for Goodbody.
Finance Minister Pascal Donohoe says it is a positive development for the economy:
