Boston-based, former Anglo Irish Bank chief executive, David Drumm has broken his silence refuting claims made by the bank’s former chairman Sean Fitzpatrick.
Speaking to the Irish Times Drumm said the claims that Fitzpatrick took a “back-seat” in the day to day running of the bank in the lead up to the collapse were “bullshit”.
In Mr Fitzpatrick’s new book “The Fitzpatrick Tapes” he claims he had no day-to-day role in the running of the bank as the financial crisis hit.
Drumm told the Irish Times “He was all over it.”
He also said that his claim that he knew nothing about Anglo’s funding problems or Sean Quinn’s secret 28 percent investment were untrue.
Speaking to the Irish Times financial correspondent, Simon Carswell, in Boston, Drumm also said Fitzpatrick began “interfering” in his role after problems developed over Sean Quinn’s secret investment. He also admitted that Fitzpatrick pressurized him in to taking the role of chief executive in 2004.
Fitzpatrick had also claimed that he did not know the name of the ten Anglo Irish clients who were asked by buy a ten percent stake held by Quinn, the group now known as the “Golden Circle”.
Drumm said that he “absolutely” knew who they were.
Prime Minister Brian Cowen is due to give a statement today over the revelation that he spoke to Sean Fitzpatrick in March 2008 with relation to Quinn’s investment in bank shares. Fitzpatrick also mentions that the pair played golf in July of that year.
Cowen claims that they did not discuss any issues to do with the bank when they met in July.
David Drumm is currently involved in bankruptcy proceedings in the U.S.
Moving to Ireland
After living in Ireland for almost one year, this is what I’ve learned