Senior officials to leave Anglo

BoyRacer · **Joined:** Jul 26, 2009 **Posts:** 3225

Senior officials to leave Anglo -> http://www.sbpost.ie/news/ireland/senio ... 45869.html

Quote:

Several senior executives at Anglo Irish Bank are set to leave the nationalised bank in the coming weeks.
The high profile departures follow a major internal shakeup which will see Mike Aynsley, chief executive, appoint a number of new external candidates to the bank’s interim management team.
These will take up key permanent senior executive roles under the bank’s business plan. The departure of the executives also comes after the Financial Regulator indicated that it will not approve the appointment of internal candidates to the bank’s long-term management team until various investigations into the bank are concluded.
The executives leaving the bank will be able to avail of a voluntary redundancy package which is on the table for staff until mid-January. However, the resignation of the senior bankers, who held key positions in the bank in recent years, is likely to be announced much sooner than that, and maybe as early as this week.

Meanwhile, Anglo Irish Bank has intensified its discussions with former chairman Sean FitzPatrick over the status of his €81 million in loans with the bank.

there is more

provost · **Joined:** Nov 22, 2007 **Posts:** 6073

Quote:

The executives leaving the bank will be able to avail of a voluntary redundancy package which is on the table for staff until mid-January.

that's awful nice of em, isn't it?

yoganmahew · **Posted:** Tue Dec 01, 2009 12:10 am

I dunno, Mr. Aynsley is starting to impress me. He is, at least, doing the obvious things. We may end up with Nuovo Angelo as the only viable bank in the country...

What Goes Up... · **Posted:** Tue Dec 01, 2009 12:16 am

BoyRacer wrote:

Senior officials to leave Anglo -> http://www.sbpost.ie/news/ireland/senio ... 45869.html

Quote:

.....
Meanwhile, Anglo Irish Bank has intensified its discussions with former chairman Sean FitzPatrick over the status of his €81 million in loans with the bank.
.....

Do it with the bracelets around his wrists or the noose around his fucking neck.

Pour encourager les autres.

who_shot_the_tiger · **Joined:** Mar 20, 2009 **Posts:** 470

yoganmahew wrote:

I dunno, Mr. Aynsley is starting to impress me. He is, at least, doing the obvious things. We may end up with Nuovo Angelo as the only viable bank in the country...

Aww Yogan, you're getting soft! He a grim po-faced civil servant type, a minion and well suited to the position of bending over for the mandarins in the Department of Finance. All he is doing is pandering to the media and the mob. For example, instead of settling accounts with David Drumm, he (or his masters) want a media circus- the "ad hominem" mentality of attack the man, not the problem. He has done no new lending, nor has he lent on any of the old accounts except where it was absolutely necessary and was approved by the Department. Their main concern is to pull all income in, let nothing out, prefer themselves over any other creditor of their clients; and package all for NAMA. Who the hell will want, or be left, to deal with them?

His idea of a "good bank" "bad bank" was put forward on a grander scale by Peter Mathews in lieu of NAMA and would have worked better than NAMA in that case, but is a waste of time on the scale of a still toxic Anglo - even after NAMA subsumes most of it. In the end, they will have no clients left and no staff of any use either. They are "dead bank walking". Acceptance of that fact has not registered yet... they still live in a fool's paradise. Come back in 12 months.

verbatim · **Joined:** Mar 4, 2007 **Posts:** 7854

Quote:

Senior executives to go in Anglo clean-out -- Lenihan

http://www.independent.ie/business/iris ... 62337.html

By Ailish O'Hora and Joe Brennan

Thursday December 03 2009

Finance Minister Brian Lenihan has signalled a number of senior managers at Anglo Irish Bank are expected to leave the nationalised lender as it pushes through a redundancy programme.

"There are substantial management changes envisaged at the bank -- with a substantial clean-out at the executive level," Mr Lenihan told reporters in Brussels yesterday.

Peter Butler, who filled in as acting chief risk officer following the resignation of Willie McAteer this year, signalled last week that he was leaving the group, which is seeking 230 voluntary redundancies.

Anglo's new chief executive Mike Aynsley is preparing to appoint a new management team, including key positions such as chief financial officer.

But the Financial Regulator said it would block the appointment of internal staff to these roles if they were involved in a series of investigations.

>>>

OPTIMUM · **Posted:** Thu Dec 10, 2009 11:05 pm

It would appear not everybody is getting out earl...
http://www.herald.ie/national-news/angl ... 70002.html
Does this mean the senior officials are leaving without a payoff ?? 8DD

yoganmahew · **Posted:** Thu Dec 10, 2009 11:11 pm

Nah, they'll be getting two years salary. Fairly standard at senior level (and not just in banking).

Leaving early on a voluntary redundancy or even forced redundancy is always a gift of management. If you are required, you are required to serve out your term until you are made redundant. You can choose to leave, but, as the article says, you are resigning. That has been standard everywhere I've worked.

Bill Shankly · **Joined:** Oct 23, 2008 **Posts:** 107

YW

Max redundancy payment is 1 year's salary, not 2 year's

Also, Anglo was a bonus driven bank, with the basic annual salary much lower that other banks, - however, annual bonuses were much, much higher

Bill Shankly - YNWA

yoganmahew · **Posted:** Fri Dec 11, 2009 11:09 am

Bill Shankly wrote:

Max redundancy payment is 1 year's salary, not 2 year's

Yeah, but are they being made redundant or being dismissed under their salary (senior management, that is).

Quote:

Also, Anglo was a bonus driven bank, with the basic annual salary much lower that other banks, - however, annual bonuses were much, much higher

Fair enough.

Bill Shankly · **Joined:** Oct 23, 2008 **Posts:** 107

yoganmahew wrote:

Bill Shankly wrote:

Max redundancy payment is 1 year's salary, not 2 year's

Yeah, but are they being made redundant or being dismissed under their salary (senior management, that is).

Hopefully being sent home with no busfare!

BS - YNWA

danash · **Joined:** Feb 16, 2009 **Posts:** 21

Why are you worrying about the redundancy payments - most of these guys OWE the bank in excess of 5m each. You and I are picking up that tab in our taxes since March.

Where is the outrage that should be there for people who bankrupted the country being allowed to leave without the public knowing the arrangements for the repayment of their loans

I drive by a house of a (former) senior manager every day and this monument to the excesses of Anglo should be put on the market immediately to recover his loans. I'm sure we will find the Family home act and 'non recourse' being bandied about as reason not to foreclose.

I can guarantee you if I bump into him in the street or the pub or at his kid's football game I will be looking for my pound of flesh for the extra taxes he has cost me since last May. I don't care who looks more ridiculous or embarrassed.

Stop accepting this - get outraged - do something to keep this in the public eye.

BTW - would Anglo now come under the Freedom of Information Act ?

Half a Trill Seeker · **Joined:** Oct 1, 2008 **Posts:** 78

danash wrote:

Why are you worrying about the redundancy payments - most of these guys OWE the bank in excess of 5m each. You and I are picking up that tab in our taxes since March.

Where is the outrage that should be there for people who bankrupted the country being allowed to leave without the public knowing the arrangements for the repayment of their loans

I drive by a house of a (former) senior manager every day and this monument to the excesses of Anglo should be put on the market immediately to recover his loans. I'm sure we will find the Family home act and 'non recourse' being bandied about as reason not to foreclose.

I can guarantee you if I bump into him in the street or the pub or at his kid's football game I will be looking for my pound of flesh for the extra taxes he has cost me since last May. I don't care who looks more ridiculous or embarrassed.

Stop accepting this - get outraged - do something to keep this in the public eye.

BTW - would Anglo now come under the Freedom of Information Act ?

Picking a fight at a kid's football match with a parent becuase he works for Anglo????
Classy!

Django_Returns · **Posted:** Fri Jan 15, 2010 2:47 pm

Quote:

Picking a fight at a kid's football match with a parent becuase he works for Anglo????
Classy!

You'd rather just bend over and take yeah, much classier!

The Unwelcome Guest · **Posted:** Fri Jan 15, 2010 3:00 pm

Provost is on a day off.

So GET BACK ON TOPIC!

Senior officials to leave Anglo

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