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Banking

Anglo Irish Bank: What’s in a name?

Mike Aynsley, chief executive of Anglo Irish Bank
Mike Aynsley, chief executive of Anglo Irish Bank, carries the bank’s logo after its removal from outside the company’s former headquarters on St Stephen’s Green in Dublin, Ireland

It is hard to imagine the following comment coming from the head of a European bank. But when Mike Aynsley, group chief executive of Anglo Irish Bank, announced it was to change its name to the Irish Bank Resolution Corporation, he made the following remark: "This name change is of symbolic importance to all of us as we move on from the past. The cost to the Irish taxpayer caused by the disastrous lending practices and poor stewardship of Anglo Irish Bank and INBS will not be forgotten or forgiven. With these infamous names now committed to history, the new board and management of the bank will continue with focus and determination to recover as much money as possible for the state." It is this change in attitude that so differentiates the Irish from the rest of Europe.












see also:

Irish lessons
Bank of Ireland shows the way to delever

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