Friday 30 September 2016

Profiles: Tiarnan O'Mahoney and Bernard Daly

Published 16/03/2016 | 02:30

Former Anglo Irish Bank official Tiarnan O'Mahoney. Pic: Court Collins.
Former Anglo Irish Bank official Tiarnan O'Mahoney. Pic: Court Collins.
Former Anglo Irish Bank official, Bernard Daly, leaving the CCJ yesterday. PIC: COURTPIX

A former chief operating officer of Anglo Irish Bank, Tiarnan O'Mahoney was considered a contender to replace Sean FitzPatrick at the helm of the bank at one stage.

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Mr O'Mahoney had earlier made his mark as Head of Treasury. But Mr O'Mahoney didn't fit in with the "culture and vision" of the bank held by Mr FitzPatrick, the trial heard.

He left Anglo in December 2004, with a total pay-off of €3.9m, and set up Irish Securities Trading Corporation (ISTC), which attracted a total investment of €165m from investors. However, in 2008, ISTC's investors were forced to write off losses of €820m.

O'Mahoney also served as chairman of the Irish Pensions Board from 2006 to 2010.

Mr O'Mahoney has been involved for many years with Kilmacud Crokes GAA club.

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Bernard Daly first joined Anglo 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.

The trial heard he was not computer literate - he had a computer on his desk, but never turned it on.

Sean FitzPatrick personally thanked Bernard Daly for his "significant contribution" to the bank during his lengthy career there.

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

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

Irish Independent

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