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Wednesday 21 March 2018

Go-to guy for top borrowers who kept a low profile

Donal O'Donovan

Donal O'Donovan

PAT Whelan is among the less well-known of those who led Anglo Irish during the boom.

The Dubliner was never a household name, like 'Seanie' or David Drumm, but as head of Anglo's Irish operations he was the go-to guy for Anglo's "top" borrowers.

The Malahide man was a seasoned Anglo insider by the time the bank collapsed in 2008.

He had headed up the "Risk" function at Anglo until 2006, when he joined the executive board to head the Irish lending operations.


The lending job meant he was the key point of contact between the bank and its relatively small number of big clients -- including the likes of Sean Quinn and the biggest of the property developers.

A month after Anglo was nationalised, Mr Whelan stepped down from the board of the bank -- but he stayed on as an employee with the bank for a time.

In court yesterday, Mr Whelan, who is still working though no longer in the banking sector, was allowed to keep his passport and told he was free to travel for business.


Like others at the top of Anglo, he earned a fortune before the lender collapsed.

Despite officially being more junior than Willie McAteer, the two men earned almost the same amount in the three years before the bank was nationalised

Mr Whelan was paid €2.14m between 2005 and 2008, compared to €2.19m earned by the more senior McAteer

Like McAteer and other senior lenders Whelan had been a borrower from the bank, as well as an employee, with loans of €5.8m from the bank.

He resigned from Anglo Irish Bank in 2009, along with a number of other senior executives following the appointment of Mike Aynsley as chief executive.

Irish Independent

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