There were two bad banks – now there is one

By David Murphy, Business Editor During Mike Aynsley’s tenure as boss of IBRC, formerly Anglo Irish Bank, he pulled off a few feats. One was to shrink the bank’s loan book from €100 billion to €15 billion, another was to sell off its US assets for €10 billion. But the Australian banker made enemies within Government. Ministers piled pressure on the IBRC boss to reduce his remuneration and that of his top team, with six executives earning more than €500,000. …