Bank feared Traynor funds withdrawal after error

Mr Des Traynor became "irritated" and "annoyed" with Bank of Ireland after letters about Ansbacher funds were mistakenly sent directly to his Central Roadstone Holdings offices without being marked private and confidential.

Internal memos showed Bank of Ireland was so concerned by the error that it feared Mr Traynor would withdraw his funds from the bank.

Mr Andy Brennan, senior manager with Bank of Ireland's private banking branch, said Mr Traynor had complained about two letters sent to 42 Fitzwilliam Square "having been assured that correspondence, as with all our clients, would be routed through our offices". Mr Brennan said the private banking branch offices were located at 35 Fitzwilliam Square. As a result, correspondence would normally be hand-delivered to Mr Traynor.

In a memo to Bank of Ireland's international division, where the letters originated, Mr Brennan wrote that Mr Traynor was "most upset" not only at the wrong address but that both envelopes were marked "private banking". The absence of "private and confidential" and "the secretary" on each gave rise to further concern. Mr Brennan added that "position relating to continuance of these deposits are uncertain".

The international branch wrote back apologising for the error.

Explaining the nature of Bank of Ireland's private banking branch, Mr Brennan said it catered for a small number of "high net worth or high income" individuals and families.