Former Irish Nationwide boss fined €200,000 and banned for 15 years

Central Bank said former executive Gary McCollum admitted to breaching financial services law relating to commercial lending and credit risk when he was with Irish Nationwide between the beginning of August 2004 and the end of September 2008

Irish Nationwide Building Society's former head of UK commercial lending, Gary McCollum, has been heavily fined and disqualified by the Central Bank.

Former Irish Nationwide Building Society (INBS) executive Gary McCollum has been fined €200,000 by the Central Bank and disqualified from running a regulated financial services firm for 15 years for regulation breaches.

The Central Bank said Mr McCollum admitted to breaching financial services law relating to commercial lending and credit risk when he was with Irish Nationwide between the beginning of August 2004 and the end of September 2008.