Joan Burton (Dublin West, Labour)
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Question 191: To ask the Minister for Finance if he will confirm recent media report that a person (details supplied) appointed as an independent expert to conduct a preliminary investigation into the banking crisis, is on the board of a hedge fund; the interests he has in banking; if these interests are in conflict; and if he will make a statement on the matter. [7617/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I announced the appointment of Mr. Klaus Regling to conduct one of the preliminary investigations into the crisis in our banking system on 29 January 2010. Mr Regling brings extensive experience of senior economic and financial positions in the German Ministry of Finance and the European Union to this role which will ensure a robust preliminary report that identifies the key causes of the crisis and provides a firm basis for the work of the statutory Commission of Inquiry.

Mr Regling's previous roles include, inter alia, various positions with the International Monetary Fund; Director General in the German Ministry; and Director General for Economic and Financial Affairs of the European Commission. Mr. Regling is currently a member of the Issing Commission, appointed by Chancellor Merkel in 2008 to advise the German Government on reform of financial regulation.

Mr Regling is currently chairman of KR Economics in Brussels, an economic and financial consultancy which he founded in September 2009. He is non-executive director of the following hedge funds; Winton Futures, Brevan Howard Offshore Management Limited and Brevan Howard Investment Product Limited.

On the basis of my Department's discussions with Mr Regling, I am satisfied that his current positions do not give rise to any conflicts with the role that he has agreed to undertake on behalf of the Government and that his lengthy experience in senior public sector economic and financial positions makes him ideally suited to this role.