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Poster boy went from top of booming bank to file for bankruptcy

SEAN FitzPatrick is Anglo's former chairman and poster boy for the now defunct bank.

The 65-year-old father-of-three lives in a plush mansion with his wife Catriona in Greystones, Co Wicklow.

Of the three defendants in the Anglo case, FitzPatrick was the best-known. He resigned from his position in 2008.

In a speech that year, he urged the Government to cut the budget for what he called the "sacred cows" of Irish society – children, the elderly and health care.

He was also a critic of what he believed was excessive regulation of Irish banks.

In July 2010 he was declared bankrupt by the High Court.

FitzPatrick is often blamed for contributing to the financial crisis, and his actions often infuriated the public.

MALIGNED

He refused to appear before the Oireachtas, even though much-maligned bankers such as Lehman Brothers boss Richard Fuld had to take their chances in the United States Senate.

FitzPatrick was paid €2.7m a year while he was running Anglo Irish.

His relationship with Fianna Fail also had a hand in the downfall of the previous government.

It emerged that he had played a round of golf with former Taoiseach Brian Cowen in 2008 as the financial crisis was heading towards its frightening crescendo.

The revelations were politically damaging for Mr Cowen.

In 2012, FitzPatrick's son, David, who was employed in the New York office of Anglo, sold a plush penthouse apartment in Manhattan to pay off borrowings from the bank.

He bought the $1.265m (€978,000) apartment a day after the last government's bank guarantee in 2008.

But he sold the property for $951,000, (€734,900), a loss equivalent to €242,000 on what he had paid for it.

FitzPatrick also has another son, Jonathan, and a daughter, Sarah.

HNEWS@HERALD.IE


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