Business Irish

Saturday 21 October 2017

Men on the line

John Bowe
John Bowe
Peter Fitzgerald
Patrick Neary

Peter Fitzgerald

Of all the jobs Peter Fitzgerald had at Anglo, the last was probably the hardest.

In March 2011, the new management set the veteran insider the task of restoring the bank's reputation.

Like John Bowe, he was one of the handful of senior Anglo bankers kept on after the bank was nationalised.

As head of public affairs, Mr Fitzgerald was the man the media would go to, in order to find out what was happening at the bank.

It put him at the heart of the new regime, close to the bank's new Australian head Mike Aynsley.

Despite being approachable and informed, the transition from career banker to public relations man was often fraught.

Part of Mr Fitzgerald's job was to convince journalists to call the bust bank Irish Bank Resolution Corp, the clumsy name designed to separate its past from its present in the minds of the public.

Mr Fitzgerald enjoyed the job and embraced the opportunity to change tack.

He now works as interim chief executive at Addiction Counsellors of Ireland and his professional profile describes him as "a commercially astute, senior business leader".

 

John Bowe

Almost a year to the day after the controversial phone conversation took place, John Bowe was in Istanbul. He was still chasing down cash for the beleaguered bank.

Almost everything else at Anglo had changed, however. The bank had first had its debts guaranteed by taxpayers and ultimately been nationalised.

The top tier of Anglo bosses had been swept away but Mr Bowe had been kept on under the new state-controlled regime.

In October 2009, Mr Bowe was entrusted with travelling to the annual meetings of the IMF and World Bank in Turkey to drum up interest in lending to Anglo among the hundreds of global investors and institutions at the event.

His role changed over time. In September 2008, he was head of Capital Markets – in charge of dealing with sourcing money for the bank in the bond and share markets. Later, he was promoted to Director of Treasury and later still he was one of the senior officials handling the bank's controversial efforts to collect debts owed by Sean Quinn.

It would be March 2012 before he left the bank, where he had spent 11 years as a senior executive.

 

And others mentioned . . .

THE REGULATOR

Pat Neary

Chief executive of the Irish Financial Services Regulatory Authority in 2008, he retired in 2009 after the publication of a report highlighting "com-munications gaps" within the regulator's department.

ANGLO IRISH BANK

David 'Drummer' Drumm

Chief executive at Anglo Irish Bank in 2008, he later moved to the US and was declared bankrupt over debts to Anglo.

Irish Independent

Also in Business