Oireachtas Joint and Select Committees

Thursday, 3 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Eoghan MurphyEoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

Well, if you weren't involved then I'll move on. So coming back then to September 2008 and just before the guarantee, in fact, there's a presentation to the board entitled "Strategic Options" from David Drumm. He notes how the market sees Anglo as a monoline bank with a concentration risk in commercial property and he's proposing a merger with Irish Life and Permanent to create a more diversified business model. That's in Vol. 1, page 147, that report that he presented, the presentation that he gave. So were you aware of this at the time? Late September, you know, Anglo has the difficulties that it has, are you aware that this is being considered by management and the board?

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