Results 4,701-4,720 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Mr. Moran says he was not aware that the banks had over-lent, yet Jones Lang LaSalle Ireland is an international section of a company that has access to specialist analysis of the commercial property market and also international comparators. I have two questions. The previous record, €1.2 billion in 2005, was trebled in 2006. Is there any other sector or jurisdiction in which the...
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: I might not get a chance to complete my questions.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Should Mr. Moran have been aware that the banks had over-lent?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: The balance sheets of the banks were available year on year and showed extraordinary growth.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Nobody.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Just nobody within.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Is it correct that nobody within his organisation was aware of it?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Did Ms Hunt's company or industry contribute to the banking crisis?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Figure one in the paper Ms Hunt provided suggests that if it had been in keeping with a similar time schedule for cycles, shortly after 2006 there would have been a reversal. She has said in previous evidence that the expectation would be similar to previous reversals, with a reduction of perhaps a maximum of 30%.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: CBRE has data going back to the 1970s from IPD. At what stage did Ms Hunt change her view that a reverse was likely?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: The person who gave evidence just before Ms Hunt was from Jones Lang LaSalle and he provided us with information that the record €1.2 billion investment of 2005 was trebled in 2006. Would that be a normal data set for a record year, on the basis of an international remit allowing one to look at comparative jurisdictions?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: No, trebling, sorry, a trebling of the previous record.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: We had that going back to 2001, 2002 and 2003.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: In 2005 there was €1.2 billion invested. That was the record then. In 2006, year on year there was a trebling of that amount to €3.6 billion invested. What I am asking is, in other jurisdictions that Ms Hunt's company would have had an opportunity to view, would it be unusual to have a record investment year trebled the following year?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: May I pursue a line that Deputy Pearse Doherty also pursued? When there is trebling from one year to another, Ms Hunt said IPD tends to have a lag. Surely the lag should have been obvious by the time the UBS report was produced 15 to 18 months later and surely it should have been available for CBRE as a research group?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Ms Hunt said that IPD requires a quarterly valuation. Does her company participate in those valuations?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: There are currently 140 staff at her company.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: How many staff were within the company at the peak of its performance?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Would the firm have been hired by property developers to perform for them?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: For property-related matters.