Results 6,621-6,640 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: How ... was that reflective of the, as Deputy, or Senator MacSharry there indicated earlier, the sales culture that was growing in the bank, and the grow fast approach, and coming back to the earlier presentation of gaining market share where employees were being heavily incentivised to extend the bank's lending?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: So, in average terms, there is a fivefold increase in the bonus payments paid out to these two individuals over a three-year period. Would that be normal or would it be an exception?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: And was there any risk associated or not, with this?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Okay, but given your current position where you take a bet, you put odds on, and there's a gain and there's a loss. In the situation here, was there ever a factor built in with regard to remuneration, that if somebody got something wrong that the remuneration was claimed back?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Okay, so just to get it on the record, there was no penalty in Ulster Bank if risk was found to actually be adverse and it impacted upon the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Okay, but in terms of motivation of people, the ... if there is no penalty for taking risk, is one likely or less likely to be more riskful?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: But in a bookmakers, you take out odds on the risk and your ... your odds are made out then by the level of the risk. In this case, there is reward for taking risk and there is no penalty for getting risk wrong.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: So, on reflection of this, do you believe that this was good or bad practice in terms of the bank making decisions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Okay, thank you. Deputy Eoghan Murphy. Deputy, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Thank you very much, Deputy, and moving on, Deputy John Paul Phelan. Deputy, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: That's agreed.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Well if the ... I just need to check on the witness, if you're saying that this is a matter of some proceedings at the moment; is that what you're saying?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Or is it commercial sensitivity?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Okay, all right, that's fine.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Final question now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Okay, thank you. Deputy Kieran O'Donnell.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: You've a few minutes, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Ciarán Lynch: Okay, one minute, Deputy.