Results 11,141-11,160 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Not the board, for the overall governance and the running and operation of the company.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: And is the board responsible for the performance of the CEO and his team?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: So, ultimately, in the hierarchy the buck stops with the board.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: "On the appointment of the executive to deliver on the strategy" but not for the overall implementation of the strategy.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Not the board's?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: But you could argue by extension that the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----responsibility of the board ends with the appointment of the CEO.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: I'm unclear, Chairman, but if you want to move on-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: No, nor am I.
- 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: The CEO reports to the board.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Thank you very much, Chair. Mr. Moran, you're very welcome.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Can I start by asking you about Anglo Irish Bank's annual report for 2007, page 3, which shows that over the period '02 to '07, profit before tax increased by 376% and earnings per share by 363% and total assets by just under 400%. So can I ask you, do you think that these levels of growth were prudent or sustainable in the context of the level of competition in the Irish lending market...
- 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: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Was it sustainable?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. And do you think that the pursuit of growth of that order inevitably impacted on credit quality and lending standards? There was such a drive for aggressive growth, did it have an impact, do you believe, on those issues - the quality of lending, in particular?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. I am intrigued by your reference to the credit committee. On page 10 of your witness statement, you say "up to 200 staff members ... could serve on a credit committee", and in the appendix then you explain that when you add in the number of people who might dial in by video conference and those who would be attending directly who would be relevant, "some 30 to 60 people would attend...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay.