Anglo Irish Bank rules out bid for Wintrust

Sean Fitzpatrick, the CEO of Anglo Irish bank said at the company's AGM today that Anglo will not be bidding for control of UK merchant bank Wintrust.

Bank of Ireland and Anglo had previously been named as potential bidders for Wintrust, which is valued at around £60m (€86.8m).

Fitzpatrick said that he would be "surprised" if Bank of Ireland did make an offer and that Wintrust was "very small".

Wintrust provides finance for residential property development and investment in London and the South East.