Results 4,541-4,560 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Just to finish off, Chairman. Are you satisfied, Mr. Buckley, that AIB was properly ran during your tenure as CEO?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: On the matter of the question that I put to Mr. Donal Forde, on page 125 of the transcript -----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Last week's, Thursday. We had a meeting at 9.30 a.m. I questioned Mr. Forde, "The expansion of the loan book of AIB for property and construction averaged 29% per annum, and that was in the sector that you were in charge of. Would you have considered your growth in that sector reckless?" His response is, "No. I didn't then." I questioned, "Do you now?" Mr. Forde says, "Yes, in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Mr. Duffy, you're welcome, thank you for coming. I'm going to start where you have finished, Mr. Duffy. "The banking and economic crisis in Ireland has indeed been staggering, the impact of which I could not fully understand until I returned to Ireland." It's a term not that often used by bankers, who tend to be more conservative with their language, the term "staggering". Could you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Thank you. In your page 3 of your statement that you furnished us with, "I am satisfied that from a governance perspective we now have an executive leadership team comprising strong and diverse management capability." Can you expand upon "now"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: "Now"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: And yes, and if you could reflect backwards on those who went before you. I'm not allowed lead a question, Mr. Duffy, so I think you could see what I have in mind, please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: You quoted the figures in terms of the reorganisation of AIB. You didn't quote the figure for the shareholder value loss. Do you have a final figure on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Okay, thank you. Also in your opening statement you state, "Clearly upon my arrival at the bank there were concerns about the bank's culture and governance." How far did those concerns that you identified go back within the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: And if you were to do a one, two, three of what were your three greatest concerns starting with your greatest one, two, three?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: And are you satisfied with where AIB are currently in relation to -----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: And is there any further change that is required to put in place the ultimate culture or ultimate structure that AIB should have that you haven't currently put in place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: ''Since 2011, the approach to risk management within the organisation has fundamentally changed''. That's a quotation from your opening statement. Credit assessment now focuses mainly on cash flows as a primary source of repayment with collateral considered as the secondary source. Could you explain why in your opinion this had not been the case before 2011?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: If risk appraisal had focused more on the cash flow analysis, would the impact of the crisis have been so severe on AIB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: In your opinion, in relation to the statement you made about the credit assessment being focusing mainly on cash flows as a primary source of repayment, if the appraisal, the risk appraisal, had focused more on cash flow ... analysis, would the impact and the crisis have been as severe on AIB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Mr. Duffy, you hadn't taken up your position within AIB very long when you publicly stated that AIB would consider writing down loans, debt forbearance. In terms of debt forbearance, and a moral hazard between mortgage write-down and-or SME corporate write-down, could you just outline your view why you so quickly moved to that position?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Mr. Duffy, you are about to leave AIB. You are about to move to another jurisdiction, you are probably in a better position than most now to offer a view in relation to the establishment of NAMA. I am not sure if you have seen the transcripts from NAMA's evidence to the inquiry to date. Could I ask your view ... was the establishment of NAMA helpful or unhelpful towards the banking crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: You are about to leave.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Since nationalisation of AIB, prior to you becoming CEO ... AIB, have they used external consultants for advice, outside of your own banking knowledge and expertise?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Michael D'Arcy: Have they ever used external consultants?