“The guys on the bond desk liked to say that they saved the firm during those years,” said the former employee. The bonds would ultimately come good as proceeds from the liquidation of Anglo, under the umbrella of Irish Bank Resolution Corporation (IBRC), beat expectations. This resulted in their par value of €27 million being handed over to holders of the bonds in late 2019. Another member of the 16, former director of bonds Finbarr Quinlan, had left the business a few years ago. Davy also plans to hire an independent third party to review issues arising from the Central Bank investigation.

Source: The Irish Times March 12, 2021 05:15 UTC