Results 4,681-4,700 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. Can I ask you were you on the remuneration committee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay, very good. Considering the absence of terms of reference and assessment of director independence and financial planning process and strategic objectives for the board, is it reaching to assume that there was the same absences of criteria for remuneration?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: I don't want to go offline here because what I am trying to get to is, you know, when ye sat down to decide that employee or director X or managing director or everyone else was going to get salary thing, what criteria did you employ? Was it as, kind of, everyone was professional in the same way as ye were made a board of directors and, you know, you didn't really get into the auld corporate...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: And would you ever be told, say, look, person A or director B is expecting, kind of, in the ballpark of such and such?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: I've one very last one and I'm finished.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Would you have felt that ye were outperforming AIB in terms of, kind of, maybe a list of benchmark AIB plus whatever or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: I agree but you just ... you said that you looked at other institutions' pay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Yes, it's a very final question. I'll just go off that point now. Can you address-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Maybe one of the future colleagues that are coming in next could look more into the criteria that we didn't seem to get to there on pay and stuff. Can I just ask you, and again I don't want to take up other people's time, maybe other people will address it-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. Can I ask-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Yes, very briefly and we can deal with this in more detail with other colleagues. The NAMA valuations was something that the managing director clearly has an issue with. What's your view of that and do you share his view that they were flawed and what ought they have been?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: What you feel is the correct answer.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Thanks very much and welcome, Mr. Purcell. Sorry for delaying you earlier. INBS's annual report for 2007 shows that over the period '02 to '07, profit before tax increased by 303% and total assets by 190%. Do you think that these levels of growth were prudent or sustainable in the context of the level of competition in the Irish lending market during this period?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: In your opinion, did this growth... was this growth influenced by the wish to add value at demutualisation and the potential windfall that that could bring to members and staff on it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Did this in your opinion lead to levels ... these growth levels? Did it lead to ... did it affect credit quality and lending standards in any way to your mind?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: In a letter dated February 2008 regarding the inspection of commercial property lending exposures, the Financial Regulator "calls into question the adequacy of controls and risk management in place in INBS for large commercial property loans and suggest[s] that a significant degree of approval authority rests with a single individual, Mr Fingleton, who also appears to be the only source of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Sorry, it's on Vol.1, page 43 and 44 but I've quoted it for you anyway. Could you provide your view on the Financial Regulator's statement on what I've just said and did you agree?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Was he the one-stop-shop in terms of underwriting and decision-making?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Do you believe that the degree of approval authority outlined by the Financial Regulator in that letter was appropriate?