‘Anglo’ consigned to history books

THE Anglo Irish Bank and Irish Nationwide Building Society (INBS) brands were formally consigned to history yesterday.

The recently merged ‘wind-down’ banks officially took on the name of the Irish Bank Resolution Corporation.

The merged group’s chief executive and former Anglo head Mike Aynsley said the development is not a matter of airbrushing the past and is of symbolic importance. “The cost to the Irish taxpayer, caused by the disastrous lending practices and poor stewardship of Anglo Irish Bank and INBS, will not be forgotten or forgiven,” he said.

He said the new entity will continue “to recover as much money as possible for the state as the organisation is fully wound down under the name Irish Bank Resolution Corporation.”

Oliver Ellingham was also named as a non-executive director yesterday.