Broker Exchange Ireland (BXI) – specialist M&A adviser focused on insurance and wealth management sector

IBI Corporate Finance acquired a 50% stake in a specialist Dublin-based M&A advisor in October 2021. BXI (Broker Exchange Ireland) is focused on facilitating and advising on transactions amongst independent brokers working in the Insurance and Wealth Management sectors.

BXI was founded by Shay Keane in 2019. Shay had previously sold Le Chéile Group (a credit union advisory firm) to various investment and insurance firms (2014) and PSL Consulting (a pensions consulting firm) to IFG plc (2008). He has a long career in the financial services sector working with companies including Mercer, Bank of Ireland Asset Management, and Irish Life.

The traditional world of insurance and wealth management brokers is undergoing a period of rapid consolidation and change. There have been some very high-profile, landmark transactions at the top end of the financial services market and particularly the wealth management and insurance sectors in the past few years but brokers at the smaller end of the market are going through a similar process. Regulatory and compliance costs are increasing significantly, many smaller brokers with owner-managers are looking to exit the market and you have a new generation of Irish and international players looking to bring various parties together to increase market share and leverage greater economies of scale. IBI believes there will be a significant volume of transactions in this sector over the rest of the decade and we’re delighted to back Shay who has vast experience and connections across the broker market.