Results 9,701-9,720 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Do managers in the EBS branch network have sales targets?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: I understand. And I noticed all mutuals at different times had these tied agent brokers, okay. Is it fair to say that, really, everybody was moving away from that model - really back to the '90s - of the broker tied agent of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: But going back to the '90s, were they not beginning to kind of close off ... yes, brokers could be out there and come to you with proposals but, you know, the Joe Bloggs auctioneer-undertaker-filling station who was also Irish Nationwide or EBS or whatever ... that really from the 90s that was ... they were all moving away from that or, certainly, EBS too or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: I just want to get to that ... I appreciate they want to make money so they want to lend more but, as you said, they weren't underwriting, so, in real terms ... weren't specifically there to dictate what growth or not-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: -----they were making but-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: But in terms of ... so, just to put it another way, is there no targets for the sales staff within the branch network of EBS? Because there was ... where I'm coming from with this is, all of your colleagues have effectively denied that there was no performance-related targets for the management in all the branch networks all over the country and this is just a bit curious to some of us here...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Thanks very much, and thanks, Mr, O'Flynn, for being here and sorry for delaying you so long this evening. From your statement that you've made political contributions to various parties, in your opinion was there any relationship between political contributions from the property sector and the regime of property-related tax incentives and reliefs, such as the urban renewal scheme in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Just so ... for absolute clarity, you wouldn't be aware of any demonstrablequid pro quofor contributions or donations?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Okay and just a last question on this kind of stream, if you like. When contributions were made in ... by the firm or you personally or whatever, were they always solicited by way of, you know, fundraising activities by politicians or political parties, or, for example, at election time would you unilaterally decide "It's election time, I think I'll make contributions"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: To the best of your knowledge, you wouldn't have kind of taken your own initiative and said, "Well there's an election coming up I think I'll ...".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Okay, that's fine. From your perspective, do you regard the valuation methodology applied in the pre-crisis period as having been sufficiently robust and representative? And if not, what is your view in relation to any deficiencies in the valuation process in the pre-crisis period?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Indeed.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: And then in the crisis, well I say ... let's ... rather than the crisis, in the stronger growth period, say that's 2005-2006, into 2007, did standards drop in any way in terms of the approach by valuers, in terms of the robustness of loan to value? Or was there any sense that valuers were facilitating developers perhaps to get a better loan to value ratio from their perspective rather than...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Yes, and would any valuer have ever, if you were putting together a project and maybe you had your own view, or your project team had their own view of a value, did the valuer ever say to you, "Sorry no, that won't work, that doesn't work, that doesn't stack up"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: You said there that in nearly every instance a valuation was required. Can you outline a case or two, perhaps, where, in borrowing, a valuation was not required?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: I suppose ... it's not in any way to question your own good business model, it's rather to get a perspective because we've had other evidence that would suggest that, on occasion, financial institutions did not seek valuations. So, could I ask you, without being specific to any cases, are you aware of any loan for a development purpose that was extended, to you or anybody, without a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: In your assessment, did NAMA save your business, or not? And are there features of NAMA's engagement with your company that you regard as particularly helpful and any as particularly unhelpful?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: So just ... in the word, then, helpful or unhelpful?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: In your opening statement, sorry, in his opening statement, Mr. Daly's comments ... it's okay to make reference to previous evidence isn't it?