Results 11,041-11,060 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Michael McGrath: Okay, and finally-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Michael McGrath: Finally, Mr. Purcell, and given the length of time you spent at INBS, you're probably best placed to answer this question. In your view, looking back now, did Michael Fingleton have excessive influence and control over the operation of INBS?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Michael McGrath: But from a governance point of view, do you believe that he had too much influence and control over the organisation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Michael McGrath: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Thank you very much, Chair. Good morning, Mr. Fitzgerald. Can I just start by asking you to clarify your own position? Because from the biog and from your own witness statement, you were head of retail deposits from 2001 to the summer of 2006-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----and then you joined the senior executive board and you became director of corporate and retail treasury and about a year later you came off the senior executive board and you went back to being head of retail deposits. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Yes. So what led to you coming off the senior executive board after just a year and were you promoted and then demoted or what was the situation there, moving to director of corporate and retail treasury and then head of retail deposit, or was it the same job? Just clarify.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: In June '06.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Summer of '06. Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: The senior executive board.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Were you a function head as head of retail deposit?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: And that executive director was on-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----the senior executive board then and not you. You were no longer on it from-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----the autumn of 2008.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. In September 2008, Anglo's loan-to-deposit ratio was 160% up from 125% in September '07. So, as head of corporate and retail treasury during the period '06 towards '08, were you concerned at any time during that period that the growth in customer deposits was not sufficient to fund the growth in the bank's loan book. In other words, there was clearly a growing dependence on wholesale...