NCB was founded in 1981 by Dermot Desmond, the successful Irish entrepreneur who was responsible for the creation of Ireland’s International Financial Services Centre (IFSC) which now employs over 15,000 people. The Group initially focused on money markets where it quickly built up a strong franchise and a significant market share.

In 1984, NCB acquired Dillon and Waldron, a small private client stockbroking firm. Leveraging off Dillon and Waldron's Stock Exchange License, NCB established an institutional bond business and quickly followed that initiative with the rollout of an institutional equity division. A separate corporate finance unit was subsequently established.

In 1994, NCB was acquired by Ulster Bank. At the time of the acquisition, Ulster Bank was owned by NatWest which was acquired by RBS in 2000.

In 2003, Group CEO, Conor O'Kelly led a management and employee buy-out of the firm. Leveraging its deep knowledge of the Irish securities markets and a growing international presence, NCB enjoyed considerable success in subsequent years. Its Wealth Management business evolved to become the premier HNW franchise in Ireland and a formidable asset manager and investment adviser. NCB's highly regarded Corporate Finance team became the advisor of choice on many of the leading M&A transactions executed over the period. In 2012, Management agreed the sale of NCB to Investec plc in a deal designed to create the leading specialist banking and asset manager in Ireland.

In June 2012 Investec completed the acquisition of the NCB Group. Investec is a large specialist banking and asset management group which is quoted on the London and Johannesburg Stock Exchange and has a market capitalisation of over £3.4BN