Mr. Ed Sibley:

There are significant issues in terms of Davy Stockbrokers. Some of them are historical, some are evident in our ongoing discussions and what has happened even in the past week. We have a robust fitness and probity regime under which we expect anyone appointed to a senior position in a significantly sized firm such as Davy Stockbrokers to be assessed on his or her fitness and propriety for that role. I will not comment on the specifics of the individual, but I would expect anyone being put forward for the CEO role in Davy Stockbrokers to be able to demonstrate that he or she is fit and proper for it. Where the appointee is coming from within a firm that has had difficulties, that person will have to account for his or her role in those difficulties.