Former Anglo Irish bank chief Sean FitzPatrick dead – cause of death

Sean FitzPatrick, the former chairman of Anglo Irish Bank, who went bankrupt during the financial crisis, has died. He is 73 years old.

A spokesperson for Mr. Fitzpatrick’s family confirmed that he died on Monday and the cause of death was a cardiac arrest. The arrangement will be announced in due course.

Before the financial crisis and the real estate collapse caused the bank to fail, and nearly 30 billion euros of losses were passed on to the country and the government’s needs for internationalization were met, Mr. Fitzpatrick oversaw the development of Anglo Irish Bank from a small bank in Dublin to the third largest bank in Ireland. Financial rescue.

A small dairy farmer, Michael’s outgoing son and civil servant mother, Johanna, was born near Bray, Wicklow County, and was educated at Bray’s introduction college, where he became a competitive rugby player, and then Study business at the University of Dublin.

In 1969, he joined Reynolds McCarron & O’Connor, a mid-level accounting firm-eventually becoming part of Ernst & Young-one of his colleagues was the future Minister of Finance and European Commissioner Charlie McCreevy .In 1974, the year he married his wife Caitriona, Mr. FitzPatrick joined the Irish Commercial Bank, which had four employees at the time.

It will continue to merge with Dublin City Bank and Anglo Irish Bank Corporation until Mr. FitzPatrick takes over as CEO of the combined group in 1986. At that time, its total loan amount was 634,880 euros.

By the time he resigned as CEO in 2005 and became chairman of the group, Anglo Irish Bank’s loan book had exceeded 34 billion euros, and its annual profit before tax was 685 million euros. The company has become in the Celtic Tiger era.

The choice of some of the largest real estate developers in the state.Under the leadership of his successor David Drumm, the company’s loan size more than doubled again in the next three years, in September 2008 after the collapse of Lehman Brothers , The company almost went bankrupt, prompting the then governor Brian Cowen’s government to take control of the wider Irish banking industry.

Mr. Fitzpatrick will resign as chairman of the board in December 2008. It was previously reported that he often transferred tens of millions of euros in personal loans from the bank to competitors of the Irish National Building Society at the end of the fiscal year to avoid paying Auditors and shareholders.

Anglo Irish Bank was nationalized in January 2008 and became the target of 29.3 billion euros in taxpayer bailouts, which will help prompt the country to seek international assistance programs from the European Union and the International Monetary Fund at the end of 2010.

Before merging with the whole country of Ireland, the bank will be renamed the Bank of Ireland Disposal Company in the following year. The merged entity entered the liquidation stage in 2013.Mr. FitzPatrick was declared bankrupt in July 2010. After the collapse of Anglo Irish Bank, a series of criminal trials followed

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