John Bowe, who has been found guilty of conspiracy to defraud, studied Accounting and Finance in Dublin City University, leaving in 1986.

He then joined Standard Chartered Bank (Ireland) Ltd as a graduate trainee. In 1990 the business was acquired by West LB and around this time he began working with corporate clients.

In 1997 he left West LB and joined ABN Amro Bank. In late April 2001 he joined Anglo Irish Bank as Head of Debt Capital Markets (DCM).

This was a new sub-division of the Treasury Division of the bank and his role was two-fold: to attract funding from professional investors who purchased bank bonds for an agreed return, and secondly, the setting up of a banking relationship team to develop business work with the approximately 350 banks worldwide Anglo dealt with.

On arrival in that role Bowe was largely on his own and began recruiting staff both internally and externally.

He reported directly to McAteer. In the summer of 2006 he was appointed to Anglo's senior executive board, along with Matt Moran and Peter Fitzgerald.

This board, chaired by David Drumm, operated at a level just below the bank's main board and was tasked with issues around capital spend and day-to-day operations.

Brian Murphy became head of treasury, where Bowe worked, in 2003. This the division in a bank concerned with getting money into the bank by raising funds in the money markets.

When Mr Murphy left the bank his role was left unfilled and Peter Fitzgerald and Matt Cullen ran Treasury in a collegial manner, Bowe told investigators in February 2010.

In early 2008 Bowe spoke to Mr Drumm about the possibility of him becoming the head of treasury but by October that year Mr Drumm cast doubt on what he had said.

Bowe said McAteer told him that he should just report directly to him. Mr Cullen reported to Bowe and another dealer in treasury, Ciaran McArdle, reported to Mr Cullen.

Judge Nolan said that Bowe was a lesser figure to the other accused in the management hierarchy. He was not a company director.

Judge Nolan told the jury that by the start of 2008 Treasury was run by Mr Cullen, Mr Fitzgerald and Bowe but by September Bowe had assumed “de facto leadership of Treasury”.

In September 2008 Bowe's colleague Mr Cullen told Bowe about a conversation he had with his counterpart in ILP, David Gantly, in which Mr Cullen told Mr Gantly they might be looking for more than €5bn in deposits.

He said Mr Gantly told him it wouldn't be a problem because “you might as well be hung for a sheep as a lamb”.

The jury heard a number of phone calls which involved Bowe and his then chief executive, Mr Drumm. During one call on 19 September Mr Drumm asked Bowe about whether they had to “cash back” the “six billion from ILP” and Bowe says yes. 

Three days later Mr Drumm called Bowe to tell him: “By the way, bigger picture. 30th September, even with the six billion fixes which Mr F***ing Denis confirmed for me this morning ... we're f***ed”.

Bowe agrees that “we're still in a hole”. Mr Drumm then asks Bowe “Are you going to be able to bloat the balance sheet ... over year end with short term inter-bank and all that sort of stuff and shove it into liquidity?”

In another call on 29 September Bowe told Mr Drumm and McAteer about the “€6bn fix” with “Permo”, explaining that “what happens is the money goes round in a circle”.

He said: “What’s happening is we give the money to them and the dance here is we actually get it back in time and that’s becoming very, very tough to do”.

During this conference call McAteer said “well keep going for the moment anyway”.

The following day, when the bank guarantee had came in overnight Mr Cullen and Mr McArdle were wondering if the ILP transactions would now cease.

Around €3bn had gone over and back at this stage. Mr Cullen approached Bowe and asked him if they were still going ahead and Bowe said they were, the trial heard.

Mr Moran also testified that he was in Mr Drumm's office on 30 September when Bowe arrived in and informed the chief executive that the ILP transactions were over and suggested that Mr Drumm ring Denis Casey to thank him.

On the same day Seán FitzPatrick, then chairman of Anglo, telephoned Bowe to congratulate him on his efforts on a day when the bank had experienced record inflows of cash in the wake of the guarantee.

During this discussion Mr FitzPatrick asked Bowe if there were “any funnies” in the year-end figure.

Bowe replied: “We have a big funny with Permo.” The accused told gardaí that the term was slang used by Mr FitzPatrick and he did not correct it. He said: “Clearly it was an out of the ordinary trade. I believe it was an unfortunate use of words”.

In another taped telephone call Bowe asked his treasury colleague Ciaran McArdle in March 2008 about “rinky dink" deals. Asked about this phrase by investigators Bowe denied that it suggested “dodgy deals”.

Bowe continued to work with Anglo, which became the IBRC, into 2012.

There he was part of a team that dealt with the restructuring of the Quinn Group loans. He gave a number of voluntary statements to investigators throughout 2010 and 2011 and took part in garda interviews under caution in July 2012.

In December 2013 he was charged with the conspiracy to defraud and granted bail.