Results 2,821-2,840 of 6,295 for speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: And you didn't take-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Mr. Quinlan, if I could, ask you ... you said earlier that Anglo was expensive.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: And you said that from your period of initial work when you left college ... from ... until about 1990, you were on a similar salary?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Sorry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Sorry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Would you describe that as your frugal period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: But can I ... I'm not trying to be funny but why did you go to Anglo? Why did you become one of their major clients when they were expensive?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: And subsequent to that then, they were competitive with the other-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: I can just revert back to your clients of Quinlan Private. What is the structure? Is there a charging structure to become a client or do they invest in particular products?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Okay. And in terms of their investment, was their investment at risk?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Were there investments where there was no risk available?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: In terms of your staff or the number of staff who participated with you in business, as your numbers ... as your loan book increased, did your staff numbers increase?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: And did you employ more staff in terms of ... to assess the risk that was potentially available with the large-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: And no-one saw what was coming?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Nobody at all?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: You were in the commercial real estate market?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: And that was the market that Dan McLaughlin, who in evidence to this committee, said was the sector that crashed ... the Irish banking sector.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Do you have a view in relation to what he said?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: He said, "We spoke about the Anglo Irish Bank, that Anglo Irish Bank and the evidence that I presented to him was 82% commercial real estate bank, 1% residential and 17% corporate, much of which was attached to the commercial real estate sector-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: -----commercial real estate sector and that Anglo Irish Bank was a monoline commercial real estate bank." And that it was that bank, according to Mr. McLaughlin, in his view, that cost the Irish taxpayer most money. Do you have any view on that?