Banking Inquiry to hear from Fintan Drury, Alan Dukes and Mike Aynsley

29/07/2015

The Oireachtas Banking Inquiry will continue its hearings when it will meet with Fintan Drury, Alan Dukes and Mike Aynsley tomorrow, Thursday 30th July.

The witnesses tomorrow are:

Fintan Drury, former Non–Executive Director, Anglo Irish Bank

Alan Dukes, former Chairman, IBRC

Mike Aynsley, former Chief Executive Officer Anglo/IBRC

Chairman Ciaran Lynch TD said: “At tomorrow’s meeting we will hear from Fintan Drury, a former Non–Executive Director at Anglo Irish Bank. Fintan Drury was a Non–Executive Director at Anglo from 2002 to 2008 and sat on a number of internal bank committees. He is currently CEO of Platinum One, a Sports Management Agency, having previously been Chairman of Paddy Power plc and Chairman of RTE.

“We will also hear from Alan Dukes, former Chairman of Anglo and IBRC. Alan Dukes was Chairman of Anglo/IBRC from June 2010 to 2013, having previously been a Public Interest Director from November 2008 to June 2010. Mr. Dukes is a former lead of Fine Gael and a Government Minister. He was also a former DG of the IIEA and is currently Chair of the Asia Matters Economic Institute.

“The Committee will hear from Mike Aynsley, former Chief Executive Officer Anglo/IBRC. Mike Aynsley was Chief Executive Officer at Anglo/IBRC from September 2009 to 2013. Mr Aynsley has held a number of senior positions in the financial services and consulting industries over the last 30 years. During this time he has worked with Deloitte Consulting, ANZ Banking Group, National Bank of New Zealand and Sec Pac National Bank.”

“All three witnesses will be asked to give evidence on the following lines of inquiry: the composition, skills and experience of the board and board subcommittees; the quality of the business model setting process; the adequacy of board oversight over internal controls to ensure risk is properly identified, managed and monitored; the appropriateness of property-related lending strategies and risk appetite; the appropriateness of credit policies, delegated authorities and exception management; the adequacy of the incentive and remuneration arrangements to promote sound risk governance; the impact of shareholder or lending relationships in promoting independent challenge by the board and/or executives; the appropriateness of the regulatory regime; the effectiveness and appropriateness of the supervision policy and powers; the nature and appropriateness of the relationship between the Central Bank including the Financial Regulator, the Department of Finance and the banking institutions; and the appropriateness of the relationships between Government, the Oireachtas, the banking sector and the property sector.

“Mr Dukes and Mr Anysley will also be questioned on: the liquidity versus solvency debate; the appropriateness of the bank guarantee decision; the decision to recapitalise Anglo, AIB, Bank of Ireland, EBS, Permanent TSB and the alternatives available and/or considered; and the options for burden sharing during the period 2008-2013.”

Further information on the Oireachtas Banking Inquiry can be accessed on this website. Full committee proceedings will be webcast live on this website while Oireachtas TV will broadcast proceedings from 9.30-6.15pm.

Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.

All media enquiries in relation to the Oireachtas Banking Inquiry should be addressed to:

Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2

P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551

All general enquiries should be directed to the Committee Secretariat.

e. contactbankinquiry@oireachtas.ie
t. +353 1 618 3651

Committee Membership

Deputies

Ciarán Lynch (Chairman)
Pearse Doherty
Joe Higgins
Michael McGrath
Eoghan Murphy
Kieran O’Donnell
John Paul Phelan

Senators

Sean D Barrett
Michael D’Arcy
Marc MacSharry
Susan O’Keeffe