Mr. Fergus Murphy:

It wasn't, Senator. I joined banking in the subsidiary in Ireland of Credit Bank, known at the time as Irish Intercontinental Bank ... Credit Bank, the Belgian bank and, in fact, I had a short tenure in ACC Bank, when I came back to Ireland from Asia in the middle of 2007. ACC Bank was a Rabobank subsidiary, 100% owned by Rabobank. In fact, I had bought ACC Bank for Rabo or I had led the acquisition of ACC Bank for Rabobank in 2001 before I headed off to Asia and so I came back to Ireland as CEO of ACC Bank and the strategy was to build a, what we called, second home market for Rabobank in Europe in Ireland, because we had Rabobank Ireland in the IFSC, which was a fine wholesale financial markets corporate banking structured finance business. I used to be CEO of that in the past. We had ACC Bank, which I had just come in to be CEO of, which is a business bank. We had ... Rabo did have a 38% ownership in a company in the Netherlands called Eureko and Eureko own Friends First or did own Friends First in Ireland, the insurance company. And the idea was to bring all these things together and, also publicly known, attempt to buy EBS, which I, ultimately, became CEO of, because EBS being a mutual is a very similar model to the Rabobank co-operative model in the Netherlands. And try to create an organisation for Rabo in Ireland that would have a mortgage business, a savings business, a corporate banking business, a treasury business and an insurance business and a business banking business and become a real player in Irish financial services at that time. That was the mission I came back to in 2007 from Asia.