Oireachtas Joint and Select Committees
Thursday, 13 November 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of Banking Sector: Ulster Bank
10:55 am
Mr. Jim Brown:
As the Central Bank reported, there was a failure of governance on behalf of Ulster Bank, which I accept. We should have had better governance and oversight of our IT outsourcing. In terms of the root cause of the incident, my view is that it could have happened, regardless of whether it was RBS, us or another party supplier.