Gloves off as Desmond blasts BoI

Dermot Desmond’s surprise broadside at Bank of Ireland’s egm could signal the beginning of the end for its top brass, writes David Clerkin, Markets Correspondent

28th March, 2009

Amid all the rage exhibited by small shareholders at Bank of Ireland’s egm to approve the government’s €3.5 billion recapitalisation package last week, it was the surgical strike delivered by financier Dermot Desmond that drove home the grim new reality facing what was once a formidable institution.

Desmond, a major shareholder in the bank, took the highly unusual step of sending the finance director of his IIU investment vehicle to personally...

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