Friday 24 November 2017

The Punt: 'Politics-free' zone here, folks

Taoiseach Enda Kenny has a lot more to do
Taoiseach Enda Kenny has a lot more to do

FIANNA Fail – given its murky role in the country's economic downfall – has understandably placed great emphasis on the need for a non-partisan approach to the banking inquiry.

And Taoiseach Enda Kenny of course agrees. But he just can't help himself taking a swipe at the opposition party, even if it will play right into Micheal Martin's hands.

In an interview with CNBC, Mr Kenny was asked to respond to allegations from the Fianna Fail leader that he was being politically partisan, and was running the risk of collapsing the inquiry. Surely you would expect the Taoiseach to dismiss such a scurrilous allegation.

"They should be ashamed of themselves," responded the Taoiseach. "They made a decision to give a blanket guarantee and made a decision about banks in the middle of the night."

But to reassure the interviewer that his partisan response meant that he really was non-partisan, he added: "I'm not interested in that sort of philosophy. What I am interested in is that the Irish people know the facts, should know the truth about the policies, the personal and the institutional failure that led to this catastrophe.

"The politics will be left at the door."

Hmm. The Punt is a little cynical, perhaps.

Version just keeps winning

GROWTH, profitability and market development. Three key attributes for any aspiring business. So award-winning Irish-owned IT services company Version 1 is thrilled to be recognised exactly for them. The firm scooped 'Company of the Year' at the ICT Excellence Awards for its outstanding business performance throughout 2013-2014.The latest honour is added to a list of previous accolades, which includes being one of the top three great places to work here – making the top 50 in Europe – as well as Deloitte best-managed company and Microsoft partner of the year.

Founded in 1996 by Justin Keatinge and John Mullen, Version 1 is one of the fastest-growing IT services companies in Western Europe.

It has doubled both profitability and revenue over the past few years. Its acquisitions include Prose Software and PM Centrix, among others.

Keep up the good work, guys.

Don't be crude, traders told

Traders at Deutsche Bank have been warned, nay lambasted, by the head of the German lender's investment bank unit, Colin Fan, over behaviour on social media.

"Being boastful, indiscreet and vulgar is not OK. It will have serious consequences for your career. And, I have lost patience on this issue," Fan, below, has told staff in an internal video memo which has gone viral.

Deutsche Bank, like its Wall Street and City peers is under intense scrutiny from global regulators, whose powers include the right to trawl through employee communications.

"You may not realise it, but right now, because of regulatory scrutiny, all your communications may be reviewed," Fan tells staff.

Fan's message makes it clear that any breach of the bank's code of conduct could mean jeapordising traders' career prospects, so there appears to be no doubting his sincerity.

While their bosses might balk, the combination of youthful exuberance and big money is never pretty.

The Punt's time in London coincided with a conspicuous consumption phenomenon known in the City by the catch phrase "models and bottles", on account of the expensive booze and glamorous company with which young, extravagantly paid traders surrounded themselves.

That culture was cut short in 2007, when reality cut the BSDs, as they liked to be known, down to size.

Irish Independent

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