Joe Costello (Dublin Central, Labour)
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Question 24: To ask the Minister for Finance the number of persons who applied, and were considered, for appointment to the Board of Anglo Irish Bank, as announced on 25 May 2010; the criteria used in the selection process; if he will confirm that the appointments were made under his authority; and if he will make a statement on the matter. [25620/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Under the Relationship Framework the Board of the bank must obtain the prior approval of the Minister for any Board appointments it proposes. Further the Deputy will be aware that as a regulated entity, all proposed appointments to the Board of the bank require the approval of the Financial Regulator in accordance with fitness and probity requirements.

In this instance the Board recommended the appointment of the three Non-Executive Directors. The bank compiled a list of 10 potential candidates for these positions, having established the skill set and experience required in addition to the 12 candidates identified by the Department.

All candidates were assessed by the Board of the bank having regard to the following criteria:

1. Financial and banking experience to chair the Audit Committee,

2. Legal background; and

3. Experience of operating in the State sector.

Following this process the Board of the Bank identified three candidates for appointment, which were approved by the Financial Regulator and subsequently by me under the Relationship Framework.