Dermot Desmond (born 1950, Cork, Ireland) is regarded as one of Ireland's most successful entrepreneurs. He is estimated to be worth €2.121 billion and is ranked 5th on the Irish Rich List and 746 among 'The World's Richest People'.^[1] This article is about the city in the Republic of Ireland. ...

Early life

Desmond was born into modest circumstances in Cork in 1950. At the age of 6, the family uprooted from the area and moved to Dublin's northside, Beaumont district. Desmond was educated at Scoil Mhuire, Marino and later studied at Good Counsel College in New Ross. This article is about the city in the Republic of Ireland. ... Beaumont is a suburb of Dublin, located in the Northside in the postcode D9 (Dublin 9). ... St Augustines and Good Counsel College New Ross, known exclusively as Good Counsel College or The Counsel by its students and residents of the local area, is an all-boys secondary school in Ireland which caters for over 750 students. ... WGS-84 (GPS) Coordinates: , , Irish Grid Reference S715278 Statistics Province: Leinster County: Elevation: 75 m (246 ft) Population (2002)  - Town:  - Rural:   4,810  1,727 New Ross (Irish: ) is a small town in southwest County Wexford, Republic of Ireland, in the southeast of Ireland. ...

From an early age, it was obvious that Desmond was a natural salesman. The young Dubliner made a small fortune selling football programmes at Tolka Park in Drumcondra. After completing his leaving certificate in 1968, Desmond applied for a junior position in Citibank.

Rise Up the Corporate Ladder

Desmond left school in 1968 and shortly afterwards took up a junior position with Citibank in Dublin. He moved on and accepted positions first in the Investment Bank of Ireland and then as a banking consultant for Price Waterhouse Coopers. In 1979 he was contracted by the World Bank and transferred to Kabul, Afghanistan. His time there was short lived as the bank withdrew its staff shortly afterwards following the Soviet invasion. In 1981, he founded the Irish stockbroking company National City Brokers (NCB). He is credited with being the inspiration behind the International Financial Services Centre (IFSC). Citibank is a major international bank, founded in 1812 as the City Bank of New York. ... PricewaterhouseCoopers (or PwC) is the largest professional services firm in the world. ... The World Bank logo The World Bank (the Bank) is a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. ... For other places with the same name, see Kabul (disambiguation). ... Soviet redirects here. ... National City Brokers, or NCB is an investment bank based in Dublin, Ireland. ... Famine sculpture in front of the International Financial Services Centre, Dublin. ...

Business

Desmond's past and present business interests and investment holdings include;

• London City Airport
• Sandy Lane Hotel
• eLearning company Intuition
• BETDAQ betting exchange
• GIS software house eSpatial
• Bottin (International) Investments Ltd. [1]
• International Investment Underwriters (IIU)
• Newfoundland & Labrador Refining Ltd. [2]
• Daon
• Baltimore Technologies
• Barchester Healthcare
• Greencore
• Rietumu Banka
• Celtic FC
• Sporting Emporium Casino
• RemoteMDx

London City Airport (IATA: LCY, ICAO: EGLC) is a single-runway airport, intended for use by STOL (Short Take Off and Landing) airliners, and principally serving the financial districts of London. ... The Sandy Lane hotel is an upscale five-star luxary hotel and beach-resort situated close to Holetown and Paynes Bay, in Saint James on the island-nation of Barbados. ... BETDAQ is a betting exchange founded in Ireland by the businessman Dermot Desmond. ... A bet exchange or p2p gambling web site is a fairly recent Internet phenomenon, and is used to describe a web site acting as a broker between parties for the placement of bets (gambling, in other words). ... A geographic information system (GIS) is a system for managing data that has a spatial specialized form of an information system. ... Baltimore Technologies is an internet security firm founded in the late 1990s by Fran Rooney. ... Greencore (LSE: GNC) is a food company in Ireland. ... Rietumu Banka is a bank in Latvia. ... Celtic F.C. (pronounced seltic, not keltic) is perhaps the most famous Scottish football club. ...

London City Airport

Desmond purchased London City Airport from Mowlem for £23.5m in 1995. The investment was considered a large risk as London's Docklands was in recession and Canary Wharf was in receivership. The airport has since become one of the more profitable in the United Kingdom. Desmond sold London City Airport in October 2006 for a reported £750 million (€1.2 thousand million) to a consortium consisting of insurer AIG, GE Capital and Credit Suisse. London City Airport (IATA: LCY, ICAO: EGLC) is a single-runway airport, intended for use by STOL (Short Take Off and Landing) airliners, and principally serving the financial districts of London. ... Mowlem is one of the UKs largest construction and engineering companies. ... American International Group, Inc. ... Categories: Companies traded on NYSE | General Electric subsidiaries | Corporation stubs ... The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. ...

Trivia

• Known as "the Kaiser" due to his luxuriant moustache which he is said to have acquired during his time in Afganistan.

References