Banking: Claims ex-boss Drumm advises Anglo's clients

Anglo Irish Bank's former chief executive David Drumm (right) has been advising clients of the bank, according to reports.

Mr Drumm stood down from Anglo Irish in December 2008. The bank subsequently issued legal proceedings in relation to a debt of €8m he owes the lender.

Last month, the High Court heard that he had voluntarily applied for bankruptcy in Massachusetts, where he now lives. When he did, he also filed a statement of affairs detailing his own income. It showed that he earned $85,500 up to mid-October this year. Some of these earnings came from advisory services which he offered to his clients in the US. It is understood that some of Mr Drumm's clients are also customers of Anglo Irish.