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Directors for banks in guarantee scheme named

Finance Minister Brian Lenihan has named the panel from which the six major banks and building societies covered by the Government Guarantee Scheme are to select additional board members. The panel is made up of 12 individuals.

Many of them need no introduction, like former Tanaiste and foreign affairs minister Dick Spring, and former minister for agriculture Joe Walsh.

Two former finance ministers, Alan Dukes and Ray McSharry, are also on the list.

Declan Collier is chief executive of the Dublin Airport Authority. He has also worked with both ExxonMobil and Esso.

Tom Considine is a former secretary general at the Department of Finance.

Frank Daly is a former chairman of the Revenue Commissioners.

Margaret Hayes is former secretary general at the Department of Arts, Sports and Tourism.

Adrian Kearns is retiring chief executive of the National Development Finance Committee

Rory O'Ferrall is an accountant with Deloitte & Touche.

Ann Riordan used to work for Microsoft here, and now she is chair of the National Standards Authority of Ireland and of the Dublin Regional Tourism Authority.

Tony Spollen has written a book about corporate fraud, and is also an internal audit consultant who used to head up the investment arm of AIB.

The next step is that each of the six relevant major financial institutions will be required to appoint two board members from this panel. The appointments will be subject to the agreement of the individuals themselves and the usual regulatory requirements being satisfied.

The Minister has also named the members of the independent committee, the Covered Institution Remuneration Oversight Committee, which will oversee future remuneration plans for senior executives of the financial institutions. The three members who comprise the independent committee are Vivienne Jupp, John Purcell and Eddie Sullivan.