Business Irish

Sunday 21 September 2014

Ex-Anglo supervisor to stay in plum Euro job

Tom Lyons

Published 27/01/2013 | 05:00

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Con Horan, the man in charge of supervising Anglo Irish Bank and Irish Nationwide for the Financial Regulator during the final years of the property bubble, is set to stay on in Europe for an indefinite further period of time.

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Horan originally was appointed to the European Banking Authority (EBA) on a two-year secondment funded by the Central Bank, which was due to end in April.

"In response to your query, Con Horan's secondment will continue with the European Banking Authority in line with the Central Bank's strategy to support new European Supervisory Authorities," the Central Bank said in a statement. It declined to comment further.

Horan's role with the EBA has been described by the media as a "national expert," with the new London-based supervisory authority for European financial institutions.

The Central Bank, however, was unable to confirm what his title was other than it was a senior position.

The EBA said it was unable to comment on individuals. It agreed to forward questions to Horan.

The EBA has previously said Horan works in the area of "oversight and supervision" but has never given any further detail. Horan's pay while working for the EBA, like what exactly he does there, remains unknown.

Horan joined the Central Bank in 1997 where he worked his way through the ranks. He was head of banking supervision at the Financial Regulator's office until 2007 when Patrick Neary became Regulator and Horan was promoted to prudential director.

This placed him at the heart of regulation when Anglo Irish Bank and Irish Nationwide were in their pomp.

He interacted directly with senior bankers in Ireland during the final years of the crisis. He is expected to be an important witness in several different court cases relating to Anglo and Sean Quinn, the former billionaire entrepreneur.

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