Results 17,161-17,180 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. Because I've been just looking at the EBS annual reports and I'm utterly confused, I have to say. For example, 2005, you are ... let me find it here now ... you're listed under "Executive Forum". No, sorry, maybe go back to 2005. So you're under "Management and Head of Risk" in the 2005 report. The 2006 report has you under "Management" again and it just says "Risk". And then, 2007....

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Can we just stick with the structure for a moment? So you have the board of the building society. Beneath that, you had, was it group management board or executive team? Which is it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Executive team.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Management board, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: That was what you would regard as the executive team.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: With the various ... a number of the directors. So, in 2006, for example, the chief executive, the director of operations in IT, director of people communications, finance director, director of membership business and so forth; so maybe six or eight people on the management or executive board.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: And you only joined that in January 2009?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. So then, in 2007, you're described as "Credit and Risk". So when did you get a role in terms of credit and what was that role?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. So can you just be specific and tell us what role you did have? You said a credit approval team reported to you from 2006?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: From a management perspective?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. But that role for you didn't involve any input into lending decisions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: And did you become head of credit then at any stage?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: But did you have a title of "Head of Credit"?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. So the committee which Ms Tinney referred to earlier on - the credit committee, as such - which she says met once, to her knowledge, from mid-2005 to April 2007. Did you sit on that committee? Did that committee report to you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: No?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. So when you were assigned some credit functions, during 2006? And that's why it's reflected in the '07 annual report. What exactly were those functions in credit? You said it was from a management perspective.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Who did you report to?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: To the finance director.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: And who else reported to him on credit decisions then? So the credit committee, let's say, which was making the decisions by incorporeal e-mails, it seems, most of the time. But ... so who reported from them? Who did they report to? Did they report to Mr. Merriman?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay.