Results 5,661-5,680 of 15,555 for speaker:Eoghan Murphy

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: So how quick was the EBS to react to these concerns then? Was it two years until your appointment that the ... this separation was made?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Okay, thank you. Just moving on in the same book, up to page 109, this is the minutes of a board nominations committee meeting on 19 February 2009. On page 109 and turning over to page 110, and we have about two people who were invited not to reapply for re-election to the board. And just to comment on that in relation to Mr. Merriman, who was one of them, the minutes talk about...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Was it a mistake to let Mr. Merriman go?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Okay. And then, just that same meeting, the CEO of Haven, the subsidiary, was also invited not to stand for a second term, because essentially the business had failed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Can I just ask you about that then, why would the CEO of Haven take responsibility in that regard for a board decision to establish the subsidiary and it then to fail?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: The question is: the CEO of Haven was invited not to stand because the business had failed, essentially, and there was no role for the CEO on the board any more. But the decision to set up Haven was a decision by the board.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Okay. And just in relation to the joint venture that was meant to be happening, with Britannia Building Society, when did that cease to be a possibility?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: So why did the EBS decide to continue with that venture? They decided to go into the idea that it would be split 50-50 with Britannia. Britannia pulls out because of the worries that they have-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: -----with the Irish market, yet the EBS continues with it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: And what happened to Haven then?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Right. And was there ever a cost put on the society for setting up Haven?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Okay, that's fine, we can find it ourselves.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Eoghan Murphy: Thank you. Thank you, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Eoghan Murphy: Thank you, Chairman. And thank you, Mr. Drury, you're very welcome.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Eoghan Murphy: In the written opening statement that you provided to the committee, under the line of inquiry for the committee, "Appropriateness of the relationships between Government, the Oireachtas, the banking sector and the property sector", you wrote, "This is not something I believe I am equipped to answer." Why did you write that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Eoghan Murphy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Eoghan Murphy: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Eoghan Murphy: Okay, well just on that then, in relation to your role as a non-executive director for Anglo Irish Bank from 2004-2008, in that role, did you establish contacts between the bank and the Government?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Eoghan Murphy: But-----