Richard's role at the new venture will see him specialise in investment sales, auctions and advisory services.

SEAN O'Neill (right) has joined agents Lambert Smith Hampton where he will specialise in investment and industrial property.

Mr McGrath specialises in investment funds and Mr Murphy in structured and leveraged finance.

Companies selling consumer goods reported the strongest trading conditions in July, but there was also increased activity for firms specialising in investment and intermediate goods.

Cerberus, a U.S. fund managing assets totalling more than $30 billion and specialising in investments in distressed assets, has not responded to requests for comment.