Senior executives to go in Anglo clean-out -- Lenihan
Finance Minister Brian Lenihan has signalled a number of senior managers at Anglo Irish Bank are expected to leave the nationalised lender as it pushes through a redundancy programme.
"There are substantial management changes envisaged at the bank -- with a substantial clean-out at the executive level," Mr Lenihan told reporters in Brussels yesterday.
Peter Butler, who filled in as acting chief risk officer following the resignation of Willie McAteer this year, signalled last week that he was leaving the group, which is seeking 230 voluntary redundancies.
Anglo's new chief executive Mike Aynsley is preparing to appoint a new management team, including key positions such as chief financial officer.
But the Financial Regulator said it would block the appointment of internal staff to these roles if they were involved in a series of investigations.
Gardai and the Office of the Director of Corporate of Corporate Enforcement are investigating a series of issues at Anglo.
These include former chairman Sean FitzPatrick's secret loans of up to €122m from the bank; the sale of a 10pc stake in some of the group's developer clients; and Irish Life & Permanent's €7.5bn deposit with Anglo in September last year.
- Ailish O'Hora and Joe Brennan
Irish Independent
