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US BILLIONAIRE INVESTOR Wilbur Ross has been appointed as a non-executive director of Bank of Ireland.
The appointment was one of several announced this morning by the bank. Former Lloyds Bank director Archie Kane has been appointed governor designate by the Bank. He will replace Pat Molloy as Governor, as the bank calls its chairman, from 29 June.
Molloy oversaw the recapitalisation of the bank and the sale of a 35 per cent stake to US investors led by Ross for €1.1bn in 2011.
Regarded as a ‘vulture’ investor’, Ross specialises in turning around distressed businesses. He made his initial fortune buying and restructuring failed companies in the coal and textiles business. in 2004 he netted a fortune when he sold International Steel Group, a conglomeration of two bankrupt companies, to Indian tycoon Lakshmi Mittal for $4.4 bn. Last year he paid £250m to help Richard Branson’s Virgin Money buy Northern Rock.
Forbes Magazine gives him a net worth of $2.2 billion.
The government has a 15 per cent take in Bank of Ireland, down from 36 per cent last year when it made the €1.1bn sale.
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Is Michael Healy-Ray really that stupid ,,,,, Looks like the apple didn’t fall too far from the tree !!!!!
yes they are , and the very ones, that has there bread buttered by him , i heard , that these guys run, co, Kerry ,if your not with, them your out, and stay out ?. local Mafioso, i here say .big fish in small ponds .
How on earth did that amadan Healy Rae get elected , are people in constituency really that thick????
maybe we could put the dog into the dail instead of micheal.
As a farmer said to me ‘why should I indicate ,sure everybody knows where I’m going .’ The rural attitude to visitors/tourists is that they should deposit their money at the county boundary and not annoy the natives with demands for service, unspoilt countryside etc. It takes a Healy-Rae to actually come out and say this ; tell us more Michael.
Michael Healy Rae your ignorance knows absolutely no bounds!!
Michael Healy Rae is supported by the plain people of Kerry – crap goes in, crap comes out.
It’s bloody obvious Micheal Healy Rae is a man that can smell money a mile away. He must be doing a reality tv show soon and needs the cash for the phone and text votes. This is the Td who cut the grass of developers houses in my estate only last summer after he was elected. He even had his ‘vote no1′ stickers still on his van with his picture so there was no denying it was him. My ghost estate is in north cork so he drove a bit from Kerry to help the developer who is living it up in the uk!
I live in the country, and I know my way around. I have to say, country driving, particularly people over a certain age and in a certain profession, is shocking bad. No indicating, lucky if there’s one working brake light on the car. If a trailer is being towed, good luck. Then you can actually see the driver looking everywhere but the road. I usually have a rant about this a few times a week, when I’m stuck behind some numpty who doesn’t indicate, no brake light on the trailer, thinks road signs are just decorations for the roadside. And that Healy-Rae lad is a bigger numpty for questioning the need for road signs.
It says much for his chosen career that he is able to function as a member of the Dail, most of the political class see their job as being ” gettin in then gettin as much as they can ” this applies to most countries so we shouldn’t feel superior, but we do have a very good class of gobshites.
In a lot of rural areas, the local yooves tend to take great delight in turning the signs. And a turned sign is defintely worse than no sign at all! Many’s the time I’ve headed off in the wrong direction thanks to a bit of late-night shenanigans.
No money in signs as they are put in by the NRA also the bank hopes to “return to sustainable profitability by 2014.” by robbing the less well off..
have your say