No further board appointments to be made until inquiries end

NO further board or management appointments — including a new chief executive — will be made at Anglo Irish Bank before the conclusion of both the internal and external reviews of the business, which are ongoing.

According to Anglo’s annual report — for the 12 months to the end of September — which was finally published yesterday, two months after its original due date, the decision has been taken to defer the appointment of a new chief executive until the internal business plan and various reviews have been carried out.

Declan Quilligan, the former head of Anglo’s British-based lending division, had been widely tipped as David Drumm’s replacement before the nationalisation of the bank last month.