Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Cormac McCarthy:

I'm not sure about the 700 job losses, Senator. I don't recall that. We ... definitely after the crisis, we put in place a plan to resize the business for the new reality and there were significant job losses unfortunately as a result of that. But during the integration of First Active and Ulster Bank, over that period of time, the employment numbers in the Ulster Bank actually grew.

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