The latest recruits for Anglo Irish's foreign legion

THE MANAGEMENT ranks at Anglo Irish Bank continue to swell with overseas recruits.

It recently recruited Englishman Richard Woodhouse, another former National Australia Bank executive installed by Anglo’s chief, Mike Aynsley.

Woodhouse, whose background is in corporate finance, has been hired as a trouble-shooter to deal with the complex debt-restructuring cases facing the State-owned bank.

He began working with Anglo as a consultant last January managing a number of large and difficult exposures – notably the €2.8 billion loans to Seán Quinn and family – and agreed to join the bank on a full-time basis as head of corporate projects in March.

Before joining Anglo, Woodhouse spent four years at Commerzbank in London. He was at National Australia Bank – where he came in contact with Australian banker Aynsley – between 1997 and 2005 and also spent time at Bank of Tokyo International and Credit Lyonnais.

The senior ranks at Anglo now resembles a United Nations overseas rescue mission to some troubled part of the globe.

Aynsley is backed up by a posse of Dutch, British and American bankers.

We should, of course, be grateful that Anglo’s foreign legion were prepared to up sticks and relocate here to help us sort out this basket case of a bank.

A fair chunk of responsibility for our future economic well-being – and up to €22 billion in taxpayers’ cash – has been placed in their hands.

It’s quite a burden for them to have to bear. Let’s hope they have broad shoulders.