Bank chief resigns - The first of many?

ANOTHER bank chief gone, how many more to go?

The resignation of Irish Life & Permanent chief executive Denis Casey is a victory for Finance Minister Brian Lenihan and no more than was essential.

Mr Casey’s decision was preceded by the resignations of two other IL&P executives.

Mr Lenihan welcomed the decision saying it was no more than “an essential first step in repairing the reputational damage done to the Irish financial system by this [Anglo Irish] transaction”.

Though Anglo Irish boss Sean FitzPatrick has resigned in disgrace and though the Financial Regulator Patrick Neary “resigned” in December, a lot more high-profile figures in our banks will have to go if this country’s reputation is to be restored.

Well done Mr Lenihan.