The end for Anglo and INBS?

[ang]

So, why do you think that they aren't doing this ?

An agreement was reached the day after the "bailout" that Anglo would be wound down over several years.

Must have been even too much for the troika to behold and slipped under the radar somewhat.

It won't be going anywhere anytime soon as I can't see FG/LAB going against this agreement with the EU:-

(DUBLIN) - Anglo Irish Bank will wind down its loan book over a number of years and will agree a revised restructuring plan by January after agreement between Dublin and the EU, Ireland's central bank said Monday.

The update comes one day after an international bailout for Ireland included an immediate recapitalisation for the struggling Irish banks totalling 10 billion euros (13 billion dollars).

http://www.eubusiness.com/news-eu/ireland-finance.7ct/

[PaddyJoe]

Anglo nameplate to be removed from its St Stephen's Green office today:

A spokesman for the bank this morning confirmed to TheJournal.ie that the name would be removed from the building at some point today, in line with the plans to merge the institution with Irish Nationwide Building Society.
That merger, the spokesman added, would come “in the coming weeks”. The removal of the Anglo nameplates formed part of the merger, which TheJournal.ie understands will see both the Anglo and Irish Nationwide names replaced while the bank’s outstanding debts and liabilities are wound down.

http://www.thejournal.ie/end-of-an-e...urce=shortlink

[C. Flower]

Anglo nameplate to be removed from its Grafton St office today:

http://www.thejournal.ie/end-of-an-e...urce=shortlink

They can put it in the back store along with the Ansbacher one.


Any suggestions for a new name for the new entity ?

[PaddyJoe]

They can put it in the back store along with the Ansbacher one.


Any suggestions for a new name for the new entity ?

It should be put up for auction like Seanie Fitz's BMW. At least it might raise a few quid for a good cause

[Captain Con O'Sullivan]

Why are they spending money on name-changes and rebranding when they've been told to close Anglo down?

[disability student]

I thought that Anglo 'Toxic' bank is to be winded down over time and i wonder why name change ? Is FG guy Noonan talking about a possible merger or a phased wind down over the years?

[PaddyJoe]

It seems that the name plates are be to stored in the bank vaults for the moment while suggestions from various charities are being considered.

[PaddyJoe]

Interesting to see the DOF is sending former UBS and Well Fargo banker, Neil Ryan, on secondment to former Anglo for six months. Looks like Noonan isn't too happy about the quality of the information coming out of the place and wants someone new on the inside.

...he will also take on a new strategy brief at IBRC as part of the bank's leadership group -- known as the group executive committee (GEXCO).

That will see him heavily involved in the development of the bank's own planning, before returning to the department to oversee its implementation.

Cantillion speculates that the reason for the secondment is that IRBC is dragging its heels on winding down the bank. It seems that IRBC management also has too cosy a relationship with big borrowers like Paddy McKillen and Denis O'Brien.

IBRC’s enthusiasm for maintaining its banking relationship with Denis O’Brien – once its biggest debtor – also does not fit with the notion that the bank is being run down. The bank has been accused of giving favourable treatment to O’Brien, leaving management open to the accusation that they harbour ambitions for the bank other than the quickest possible run-down.

As a member of the bank’s group executive committee, Ryan will be in a position to judge all this for himself.

http://www.irishtimes.com/newspaper/...323844642.html