Early Life and Education
Dermot Desmond was born in Macroom, County Cork, Ireland, on August 14, 1950. He spent his childhood in Marino, Dublin. Desmond received his education at Scoil Mhuire, Marino, and Good Counsel College in New Ross. He began his career in 1968 at Citibank in Dublin.
Rise to Success
Desmond's business career includes founding NCB Stockbrokers in 1981, which later became Ireland's largest independent brokerage. He sold NCB in 1994 for a reported £39 million. In 1995, he founded International Investment & Underwriting (IIU), a private equity firm that serves as his primary investment vehicle. Desmond's acumen has led to investments in various sectors, including the purchase and profitable sale of London City Airport.
Key Business Strategies
Desmond is known for his strategic investments and ability to identify opportunities. A key strategy has been to acquire and develop businesses, often selling them for significant profits. His investments span a variety of industries, from finance and sports to real estate and technology.
Philanthropy
Dermot Desmond is actively involved in philanthropy, with significant contributions to causes such as education, healthcare, and sports. He has supported organizations like Respect, which focuses on improving the lives of individuals with intellectual disabilities. Desmond's philanthropic efforts extend beyond Ireland, with strategic investments in international markets and projects related to sustainability and innovation.
