Oireachtas Joint and Select Committees

Wednesday, 19 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB

4:00 pm

Mr. Ray MacSharry:

I am not here to answer on behalf of any other bank. I was a non-executive director of Bank of Ireland until February 2005. If the Deputy looks back at what happened he will find that the greatest difficulties occurred after 2005. There is no question about that. The Deputy can check the figures. I am satisfied to act in the public interest as I have been doing on the board of Irish Life and Permanent for the past four years and in Permanent TSB for the past number of months. We do act in the public interest. Headlines about fees received by former Ministers or directors general of Departments aside, the fact is that we are getting no more and no less than any other director on any of the covered banks. That is a fact.