Transformation from bookie to banker is long overdue
It might be desirable to have people who know gambling is for mugs running the banks, writes Declan Lynch
Published 18/05/2014 | 02:30
PATRICK Kennedy, chief executive of Paddy Power, will be leaving his post in a year's time. And according to various business reporters, there is speculation that he may eventually "head up" Bank of Ireland, where he already has a "role" as a non-executive director.
Now, there was a time in Ireland, and indeed in most advanced societies, when even the mere speculation that a bank might be run by a bookie would cause some excitement. Even, perhaps, a touch of anxiety.
Terry Rogers, for example, who was effectively the chairman and chief executive of the Terry Rogers turf accountancy corporation, a man of tremendous energy and charisma and a mathematical genius, would hardly have been in the running for one of the great roles in Irish banking.