Oireachtas Joint and Select Committees
Thursday, 18 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John Moran:
First of all, I think it's important to note, and in particular in respect of Bank of Ireland, right, is we were a minority shareholder. So, a number of the other shareholders had appointed members of the board ... they actually had appointed members of the board and they were, in effect, under their governance structure recommending these. So our role was whether or not the Minister would agree to it or not. And it was, I mean I'm not that sure of the details, but as far as I know, these were, at least one of these was a pre -existing commitment, it was a pre-existing salary, so the question was whether it would be reduced or not. At least if it was post-2011, if we're talking about something before 2011, I wasn't even there.
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