Results 11,581-11,600 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: My final question, and again it's relating to Mr. Forde's appearance before us. Mr. Gleeson said that the Republic of Ireland division brought the bank down. They are his words. And you were chief executive of the group at the time. Mr. Forde told us that in January-February '09, he was completely removed from discussions at executive management level and board level and then, without...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: And was anyone else redeployed at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: At management level?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: Thank you, Chairman. And thank you, Mr. Duffy. I still have a few questions in relation to NAMA, if I can. When you came into the bank, NAMA had just finished ... or was in the process of finishing the transfer of loans from AIB into NAMA. So did you review their work over that previous 12 to 20-month period?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: This is part of the service level agreement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: So you had to establish a relationship with NAMA.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: In terms of with the CEO, say with ... or the chairman. Did you have to then go and formally meet them and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: And would they have raised any concerns with you in those meetings about some of the loans they were encountering or the performance of those loans or the treatment of those loans?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: NAMA in their evidence raised two issues with us in relation to what they discovered from the loans when they brought them across from the various banks, and one was as the crisis hit, the extent to which banks were attempting to collect income, it was going to debtors and not the banks, so rental income from shopping centres or office blocks in the millions, and they gave us two figures -...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: So it comes down to personnel issues?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: Okay. The other issue I raised was in relation to advances to debtors by AIB, once NAMA was announced, until the loans were acquired by NAMA. The Central Bank had said that it would be acceptable if NAMA deemed those advances to have been made on a commercial basis. So, this is to the debtors that are moving into NAMA from AIB and AIB advanced €595 million in that period but only...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: Okay, they drew our attention to this quite particularly ... that AIB had been told that it could advance money to debtors that were transferring to NAMA as long that money was advanced on a commercial basis. And when NAMA did its review, it found that only 62% of that had been advanced on a commercial basis - 62% of €595 million, so the amount that was eligible was €367...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: And NAMA didn't bring this to your attention when you took over as CEO?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Eoghan Murphy: Okay, thank you. Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Thank you, Chairman. Thank you, Mr. Forde. You're very welcome. Just to clarify, Mr. Forde, if I may, you were managing director of AIB in the Republic of Ireland from 2002 to February 2009. Did you have an opportunity to hear Mr. Gleeson's evidence this morning?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: In the written statement he provided to us he said that - under the heading "Quality of the Business Model Setting Process" - "Four of the five business divisions, came through the crisis relatively intact. The exception was the largest division namely Republic of Ireland." And then in his oral presentation he said "ROI brought the bank down". Would you like to comment on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Coming to your opening statement ... just to get some clarification ... you said that in January-February '09, you were completely removed from discussions at executive management level and board level, and without objectives or direction in terms of a work agenda, and nine months later you left the bank. Could you please clarify what happened here and why you think it happened?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: In terms of that move being made, at that time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: And do you think that move, that you made, do you think it was a result of a particular action on your part, or connected to the performance of the bank in the Republic of Ireland, under your tenure?