Oireachtas Joint and Select Committees

Thursday, 22 November 2012

Public Accounts Committee

2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011

11:10 am

Mr. John Corrigan:

We will formally press the FSA in this matter because its role is vital to us getting independent information on what happened and on getting closure in the context of our relationship with State Street. On the exits, as I refer to them, that issue arose in the discussions with the vice chairman of State Street when he met us in Dublin. We asked him the same question that has been asked here, which was, frankly, did heads roll as a result of this? Given that there are legal issues between State Street and certain individuals, he was somewhat circumspect in his reply, but it is clear that three individuals exited the organisation.