Drumm's rant after Dutch bankers pulled out of deal
Published 04/09/2011 | 05:00
ANGLO Irish Bank tried to sell a stake to Dutch giant Rabobank as the Irish financial crisis began to strangle the bank in mid-2008.
Former chief executive David Drumm travelled to Utrecht to meet Rabobank bosses about selling a stake in Anglo as part of a deal which would have seen the doomed bank take over ACC Bank, which is owned by the Dutch firm.
However, when the deal collapsed at the last minute, Drumm erupted in fury, according to a new book, Anglo Republic by Simon Carswell, published by Penguin. An email exchange between Drumm and another executive, saw the banker -- now fighting bankruptcy proceedings in the US -- describe the Dutch bankers as "Windmill lovin' clog wearing MOFOs"
The book -- in bookshops tomorrow -- reveals details of the furious rows between chairman Sean FitzPatrick and Drumm. One heated exchange saw Drumm roar at his chairman, "I never want anything to do with you again in the future. You're an impossible person to deal with."
Sunday Indo Business