Saturday 22 October 2016

Anglo Trial: The Accused

Published 31/07/2015 | 02:30

Tiarnan O'Mahoney
Tiarnan O'Mahoney
Aoife Maguire
Bernard Daly

Tiarnan O'Mahoney, as Chief Operating Officer for Anglo Irish Bank, was for many years one of the most influential figures in Irish financial circles.

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He was closely involved with Sean FitzPatrick - the driving force behind Anglo - as it steadily became a major player in the Irish banking scene.

The 56-year-old was in the running to replace Mr Fitzpatrick as chief executive in 2004 - but the top job went to his younger rival, David Drumm.

O'Mahoney had earlier made his mark as Head of Treasury, by among other strategies, offering highly competitive rates on retail and corporate deposits.

Following the appointment of Mr Drumm, he departed from the bank in 2004, with a total payoff payment of €3.9m.

During his final years at the bank, his salary and bonuses came to €4.4m. The following year he established Irish Securities Trading Corporation (ISTC) which attracted a total investment of €165m from a varied group of investors.

However, in 2008 ISTC's investors were force to write off losses of €820m. O'Mahoney also served as Chairman of the Irish Pensions Board from 2006 to 2010. He was among those who briefed Kevin Cardiff from the Department of Finance in September 2008 on the serious funding problems facing the Irish banks. A noted GAA enthusiast, he lives in a luxury house in Enniskerry, Co Wicklow.

Aoife Maguire

Aoife Maguire (62) worked her way up through the ranks in Anglo Irish Bank, rising from the position of dictaphone typist, to landing a job as an assistant manager.

She had started working for the bank back in 1987, but from the outset displayed the energy and ability which pushed her career steadily upwards. In 2004, she was working on the bank's IT helpdesk and had responsibility for a number of other duties in her role as assistant manager. The key to her appearance in the trial is that in 2003 she was appointed to a task team in relation to an audit of non-resident accounts at the bank, demanded by the Revenue Commissioners.

Crucial to the court evidence were directions given to IT staff to delete certain accounts connected to Sean FitzPatrick. She had worked in a number of departments over the years with Mr O'Mahoney, but as regards reporting structures, she stated there were always a number of people between them.

She departed Anglo in 2009 - but subsequently renewed her working relationship with Mr O'Mahoney when she joined his newly created company, International Securities Trading Corporation.

Bernard Daly

Former Anglo Irish Bank chairman Sean Fitzpatrick personally thanked Bernard Daly for his "significant contribution" to the bank during his lengthy career there.

The 67-year-old first joined the now defunct bank in 1993, after leaving the Central Bank, where he was Head of Banking Supervision.

He received a promotion shortly after the move, and was appointed as Anglo's company secretary in 2003.

He remained in that position until his retirement four years later.

In the 'Anglo Irish Bank Annual Report and Accounts' in December 2006, the former chairman Sean Fitzpatrick wrote a dedicated note to Bernard Daly to thank him for his years of service at the company.

"I would like to thank Bernard for his significant contribution and commitment," Mr Fitzpatrick said.

He was later succeeded in the role by Natasha Mercer.

Daly was arrested in November 2013 and pleaded not guilty to all of the four charges.

Irish Independent

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