FitzPatrick: Drumm needed to show us he was the man in charge

Former Anglo chairman Sean FitzPatrick told gardaí that the bank's chief executive David Drumm rarely sought advice as he wanted to show "he was very independent" of him.

Mr FitzPatrick told investigators in 2010 that he "was never involved in any executive discussions" as the CEO "needed" to let the bank's executives know that "he was the man in charge".

Sean FitzPatrick denies 16 charges of providing unlawful financial assistance to the Maple Ten and Sean Quinn's family to purchase Anglo shares in July 2008.

The purpose of the transaction was to unwind the 29% stake Mr Quinn, the Cavan businessman, had secretly built up in the bank.


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