Anglo Irish FD latest casualty of loans scandal
Bank to split FD and risk officer roles after debacle over loans to former chairman
Bank to split FD and risk officer roles after debacle over loans to former chairman
The finance director of Anglo Irish Bank has resigned becoming the latest
casualty after a scandal involving loans to the bank’s former chairman of
euros87m, according to
Reuters.
The bank announced today that William McAteer, who was also the bank’s chief
risk officer, has stepped down and said it was working on an overhaul of
corporate governance at Anglo Irish to rebuild trust.
Reuters reports that current chief financial officer, Matt Moran, has been
made FD designate.
Prior to joining Anglo Irish McAteer was managing director of Yeoman
International Leasing and was a partner at Price Waterhouse.
Former chairman Sean Fitzpatrick and chief executive David Drumm resigned
following controversy over loans made by Anglo Irish to Fitzpatrick that had
been transferred to other banks over the course of eight years.
The loans were never revealed to shareholders creating a furore over
disclosure.
A statement from the bank today said: ‘The board has decided to appoint a new
chief risk officer from outside the bank who has the experience of international
best practice and who will bring a comprehensive approach to the key area of
risk management throughout the bank.
‘This will be a board position and will be a separate function from the role
of finance director.’
A new CEO is being sought by the bank which hopes to announce name before a
shareholders’ meting on 16 January.
The numbers you crunch tell a story. Your expertis...
15yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article