Monday April 6, 2020

Ulster troubles claim First Active victim

Ulster Bank chief executive Cormac McCarthy may yet find that putting First Active out of its misery was one of his easier tasks.

31st January, 2009

That it fell to Cormac McCarthy last week to bring the curtain down on First Active’s existence has a certain symmetry. McCarthy was chief executive of the former First National building society and masterminded its €890 million sale to Ulster Bank owner Royal Bank of Scotland (RBS) a little over five years ago.

He was one of the main beneficiaries of the sale, as it provided him with a springboard to climb up...

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