Drumm awaits inquiry terms before decision on co-operation

Former Anglo Irish Bank chief executive David Drumm has said he will consider whether to participate in any official banking inquiry when its terms of reference are known and he has sought legal advice.

Mr Drumm again made no commitment to return to Ireland from the United States to answer questions from investigators examining various matters in the run-up to the collapse of the bank.

“I live and work in the United States and I have a family to support,” he said. Mr Drumm claimed he had “not hidden from my role as CEO of Anglo during the liquidity crisis”, but he stopped short of saying that he would participate in a banking inquiry.

"You cannot expect me to comment on a banking inquiry that has not yet been established and the terms of which are still unknown," he told The Irish Times in response to emailed questions.

“When it is established and the terms are known, I – like everyone else, I suspect – will seek legal advice and consider my position at the appropriate time.”

Two Government Ministers yesterday called on Mr Drumm to return to Ireland to co-operate with the Anglo Irish Bank investigations and to participate in an official inquiry.

'Answer any questions'
Minister for Justice Alan Shatter said he believed Mr Drumm should "co-operate" with the Garda as requested and "make himself available to answer any questions that remain to be answered".

Minister for Finance Michael Noonan said Mr Drumm should "set the record, as he sees it, straight in the inquiry".

“I think David Drumm should make a statement that he’s prepared to return from America and co-operate with the inquiry,” said Mr Noonan .

In emails to The Irish Times before the comments by the two Ministers, Mr Drumm again criticised the selected publication of edited taped internal telephone conversations involving himself and other Anglo executives during the crisis.