Sept. 11, 2012
-- A former candidate of London Business School has been seconded by the department of finance to oversee the loan books of the Irish bank Resolution Corporation, as part of a new strategy to contain damage in its finance books.
Having worked as a banker, Mr Ryan became part of the department of finance in 2011 and is booked to take over this new responsibility in the later part of 2012. As the new head of market solutions, his primary responsibility is to “facilitate the deleveraging of the bank’s loan portfolio in the most efficient time frame,” as stated in a message sent to employees of the IBRC by its chief executive, Mike Aynsley. According Mr Aynsley, Ryan’s new role will report to Tome Hunersee, the current head of corporate development and also act as a member of the bank’s executive committee team.
Prior to this move, Neil Ryan worked with John Moran who is the current secretary general of the bank’s finance department. His previous role looked over the financial responsibility of the Bank, whilst building a “stability team with a focus on deleveraging, governance and remuneration policy at the covered banks”. Mr Ryan’s has cultivated an extensive career in banking and corporate finance with over 21 years in domestic and international wholesale banking. He has also worked at UBS investment bank, London, as an executive director and has since managed several roles both in London and outside.
IBRC emerged in October 2011 following the transfer of the Irish national Building Society to Anglo Irish bank, nationalised in 2009. The bank has since received €29.3 billion by the state and due to be wound-down by 2020.
Following the recent financial struggles in the corporate finance industry, IBRC has taken primitive steps to contain existing damage and manage is loan books, and part of its strategy is to secure highly talented individuals to hold up its finance departments.
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