Results 6,021-6,040 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: That is the sufficiency that you were talking about.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: A final question, if I may, because I’m close on time, is, when Mr. McDonagh was before us from the NTMA, in the inquiry, and he was talking about the night of the guarantee but also the preparations leading up to it and what he understood and the view of the NTMA and he said in page 91 of the transcript, it says, this is Mr. McDonagh: "I think it was about 1 o'clock, I think it was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: You mentioned the NTMA was in a meeting on the 24th, the day before that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: But is it possible that someone attending the meeting on the 25th being informed of what was discussed on the 24th might have misinterpreted this in some way to come to the conclusion that Mr. McDonagh had come to that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: It is possible.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: How is that possible if the meeting is so clearly recorded and that’s your clear understanding that the guarantee was the option being discussed-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: -----that someone would be able to say then or come to a view from that that all the work had been about preparing for nationalising an institution? How can you take that from-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: But you think it’s possible that someone could do that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Can you think why perhaps they might decide to give, or could they or would they, give a view to the Central Bank but be doing other work that they wouldn’t inform you of, that might be equally as valid an option?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Thank you, Chairman, and thank you, Mr. Browne. You're very welcome.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: I'd like to begin with the performance of the board, if I may. There was a board review undertaken by external consultants in 2003 and this review noted that some directors felt that the board pack "fails to ignite debate on important issues". The report also notes that many directors expressed a "frustrating need for more debate on strategic issues". When we come to the Nyberg report in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: But, would that have been your impression of the board when you arrived?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: "Fails to ignite debate on important issues ...many directors expressed a frustrating need for more debate on strategic issues."
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: But, do you think that the level of debate and challenge to management of the board was sufficient then from the non-executive directors?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: So, when you came onto the board, though, was there any reference made back to this external consultants review from 2003 on the strategic management committee, was any discussion of how you might improve the board packs, improve debate at the board level?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Okay. When Mike Aynsley was before us, he said that the committee structures was not as effective as they could have been, and he was aware that a board within a board existed. Can you comment on this in a general way, please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Mike Aynsley talked about this idea of a board within a board existing at Anglo.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Okay. The Nyberg report also talked about Anglo having insufficient checks and balances - "Traditional risk evaluation procedures and risk mitigants were not implemented in practice", and that governance also "fell short of best practice". What do you say to that? Do you agree with that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: So is Nyberg incorrect when he says that governance fell short of best practice in Anglo Irish Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Have you read the Nyberg report?