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Jeremy Masding, former chief executive of Permanent TSB, with Eamonn Crowley, his successor. Photograph: Andres Poveda

Jeremy Masding, former chief executive of Permanent TSB, with Eamonn Crowley, his successor. Photograph: Andres Poveda

Spare a thought for Jeremy Masding, the Welsh banker who took on the job nine years ago of saving Permanent TSB (PTSB).

As chief executive, Masding developed PTSB’s mortgage arrears systems from scratch, convinced the government and the European Commission that the bank had a future after a €4 billion taxpayer bailout, and returned it to the main stock market after failing European stress tests. He also, against the odds, completed the sale of its UK loan book in 2016 after the Brexit vote, and offloaded billions more of problem home loans.

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