Results 10,821-10,840 of 27,945 for speaker:Michael McGrath

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

Michael McGrath: Okay. So then, in 2007, you're described as "Credit and Risk". So when did you get a role in terms of credit and what was that role?

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

Michael McGrath: Okay. So can you just be specific and tell us what role you did have? You said a credit approval team reported to you from 2006?

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

Michael McGrath: From a management perspective?

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

Michael McGrath: Okay. But that role for you didn't involve any input into lending decisions?

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

Michael McGrath: And did you become head of credit then at any stage?

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

Michael McGrath: But did you have a title of "Head of Credit"?

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

Michael McGrath: Okay. So the committee which Ms Tinney referred to earlier on - the credit committee, as such - which she says met once, to her knowledge, from mid-2005 to April 2007. Did you sit on that committee? Did that committee report to you?

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

Michael McGrath: No?

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

Michael McGrath: Okay. So when you were assigned some credit functions, during 2006? And that's why it's reflected in the '07 annual report. What exactly were those functions in credit? You said it was from a management perspective.

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

Michael McGrath: Who did you report to?

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

Michael McGrath: To the finance director.

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

Michael McGrath: And who else reported to him on credit decisions then? So the credit committee, let's say, which was making the decisions by incorporeal e-mails, it seems, most of the time. But ... so who reported from them? Who did they report to? Did they report to Mr. Merriman?

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

Michael McGrath: Okay.

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

Michael McGrath: It's incredibly convoluted.

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

Michael McGrath: Yes, and I am sorry for trying to tease it out.

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

Michael McGrath: I am trying to get it clear in my own mind, exactly what your role was and how credit decisions were made and how the chain of accountability-----

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

Michael McGrath: -----worked its way up to the executive team and then to the board, so-----

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

Michael McGrath: Yes.

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

Michael McGrath: Right.

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

Michael McGrath: And was there any one person in charge of credit?