Following more than five and a half years at the helm, Dr Dermot F Smurfit has decided to step down from the board of ML Capital, effective 31 December 2018, at time he feels the company is set to embark in its next phase of growth.
During his tenure at the company, Smurfit has driven the development of the senior leadership team, has helped cultivate an enhanced corporate governance culture and also played a significant role in promoting the company globally to his network.
Smurfit says: “I have been Chairman of ML Capital since April 2013 – during that time the company has achieved remarkable growth with AUM growing from less than USD1 billion to over USD7 billion today.”
“We are now a major player in the Fund Management Business with some 60 funds now attached to our management company. The company, under the leadership of Cyril Delamare and his senior management team is both profitable and ready for its next growth phase.”
“I have decided it is now time for me to step aside and have appointed Mr Barry McGrath following approval from the Board to become the next Chairman to help lead that charge. I will continue to hold my financial stake in the company and look forward with great confidence to see continued growth in the years to come.”
Having been one of the leading law partners in Ireland for over 15 years, McGrath will step in to the role as Chairman of ML Capital. Supporting ongoing growth and the company’s client centric philosophy, McGrath will bring his valuable experience and considerable network to the company.
McGrath led Maples and Calders Dublin Investment Fund practice between 2008 and 2017 where he and his team grew its group to become the largest funds practice in Ireland.
McGrath says: “I am delighted to take over from such a charismatic and effective chairman who has supported the growth of the business and under his stewardship has brought to the board high standards of reporting and compliance which is paramount in today’s environment. ML capital is a new challenge for me and one that I feel I can add significant value by working alongside a dynamic group of partners and executives.”
ML Capital handles all aspects of the fund structuring and launch on investment managers’ behalf. They have had comprehensive coverage of investors in all key European markets for the past 20 years.
