Anglo Irish Bank - History

History

• 1964 – Anglo Irish Bank was established in Dublin.
• 1971 – Anglo Irish listed on the stock exchange.
• 1988 – Anglo Irish acquired Irish Bank of Commerce.
• 1995 – Anglo Irish acquired Royal Trust Bank (Austria), a bank with a 100 year history, from Royal Bank of Canada and renamed it Anglo Irish Bank (Austria). Anglo Irish also acquired a loan portfolio from Allied Dunbar.
• 1996 – Anglo Irish acquired Ansbacher Bankers, which was established in Dublin in 1950.
• 1998 – Anglo Irish acquired Crédit Lyonnais (Austria) and combined it with its existing Austrian operations.
• 1999 – Anglo Irish acquired Smurfit Paribas Bank, a joint-venture that Banque Paribas had helped establish in Dublin in 1983. Anglo – Irish also bought a loan portfolio from Bayerische Hypo- und Vereinsbank.
• 2001 – Anglo Irish acquired Banque Marcuard Cook & Cie. in Geneva, Switzerland, and renamed it Anglo Irish Bank (Suisse).
• 2005 – Chief Executive Seán FitzPatrick stepped down to assume the role of chairman. David Drumm replaced him as CEO.
• 2007 – In January, it was reported that Seán Quinn bought a 5% stake of Anglo Irish Bank for US$750 million. In July 2008 Quinn converted investments in the bank to ordinary shares, increasing his family's stake to 15%.
• 2007- Later in the same January, consultants Oliver Wyman named Anglo Irish Bank as the best bank in the world in a piece of research published to coincide with the World Economic Forum in Davos, Switzerland
• 2008 - In September, Anglo Irish sells Anglo Irish Bank Austria (AIBA) to Swiss bank: Valartis Bank A.G.
• 2008 – In December, both FitzPatrick, the Chairman, and Drumm, the CEO, resigned (see above).
• 2009 - Merrill Lynch, after receiving a fee of over US$11 million, said that the bank was "financially sound", 11 days before nationalisation.
• 2009 – The Irish Government nationalised Anglo Irish Bank at which point the Irish Stock Exchange and the London Stock Exchange delisted the bank. On 19 January the Board of Directors resigned to allow the Government to appoint a new board.
• 7 September 2009 - Mike Aynsley appointed as new Group Chief Executive.
• 2010 – Alan Dukes appointed chairman
• 18 March 2010 – Former chairman Sean FitzPatrick is arrested for fraud.
• 31 March 2010 - At €12.7 billion, Anglo posts the largest loss in Irish corporate history.
• 2 June 2010 - Irish Minister of Finance, Brian Lenihan, announced a €2bn cash injection for Anglo Irish Bank.
• 8 September 2010 - Lenihan announced the separation into two entities.
• 30 September 2010 - the Irish Government announces a total estimate of the eventual cost of the Anglo Irish bailout as at least €29.3 billion, while also announcing that two other banks, AIB and Irish Nationwide, will require additional funding
• 31 March 2011 - For the year 2010 Anglo Irish Bank announced a €17.7 billion loss, breaking its own record for the highest corporate loss in Irish history.
• 20 April 2011 - Anglo Irish Bank signage removed from all the Bank's buildings across the world in a coordinated effort.
• 14 October 2011 - Anglo Irish Bank officially changed its name to Irish Bank Resolution Corporation Limited
• 26 January 2012 - The High Court was told a total of 11 gardai are investigating the sinister goings-on at Anglo: Mr Justice Peter Kelly found it "extraordinary" that more police were not involved.