Ex-Anglo bankers’ financial advice service posts profit of 15.6%

LeBruin, an Irish corporate finance and debt advisory specialist set up by former Anglo Irish Bank executives Tom Browne and Cathal Fitzgerald, increased its after-tax profit by 15.6 per cent last year to €760,000.

Its latest accounts also show an increase in turnover of 48 per cent to €3.25 million, for the year ended April 2015.

They also show staff costs rose by 50 per cent to just under €1.6 million. Based in Dublin, LeBruin opened a London office last April, hiring a dedicated business development manager to strengthen its relationship with funders.

It filled a similar role to service non-Dublin locations, including Galway, Cork and Limerick. In addition, it launched Origin Capital Ltd, a senior debt-funder specialising in commercial real estate transactions between €3 and €20 million.

Mr Browne, managing director, said last year was one of “significant growth” for LeBruin, notably with the launch of Origin Capital, which has lent more than €50 million.

LeBruin specialises in matching clients with new funding and facilitates debt restructuring agreements with Nama.