Results 9,301-9,320 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: That relates to a number of control issues arose in AIB over the years such as Rusnak and I think you referred to some of these in your opening statements this morning - foreign exchange rate settings, incorrect interest rate charges, offshore accounts, etc.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: In your judgment as chairperson of AIB, Mr. Gleeson, how do you reconcile these with the governance standards outlined in each of AIB's annual reports?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: A general question before I invite the next questioner, Mr. Gleeson, is that the bank has governance standards, these are outlined every year in the annual report but there are a series of ... these are not small events ... they're quite significant events, the exchange rates and all the rest. At any stage was there, this is the question, that we really need to review our governance...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Okay but can I put the question to you that there seems to have been an ethos or a culture or a repetition of error after error after error? As chairperson of AIB, did you think you changed, that you succeeded or failed in dealing with that ethos?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Mr. Gleeson, just to remind members whilst that we are concentrating on the guarantee at one level, there are years of events that came before the guarantee and we would need to be balancing our questionings on both areas. Next questioner, Senator Michael D'Arcy. Sorry, my apologies. Senator Marc MacSharry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Thank you very much Senator MacSharry. Senator O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Page number? Page number?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Page 33.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: You've come to the last question, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Senator, you're about to run out of time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Senator, you're out of time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: You're out of time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Bring it on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: There is a question that I believe now needs to be asked because we can ... while there is a lot of information on the guarantee, there is a period leading up to the guarantee that has to be dealt with. And I want to discuss the business model that AIB were operating.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: And would I be right in asking you, Mr. Gleeson, that the development of the bank's business strategy is one of the main responsibilities of the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: So, it would take up a substantial part of the board's activity?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Okay. Well, in my opening question this morning, a bank that was in existence going back before the establishment of the State, and I think before the Act of Union, or in around that time ... there was a business model in place.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Did the business model change radically in the period before the guarantee, the grow-fast model as maybe Bill Black, a witness here before the inquiry-----