Consultancy Contracts

Dáil Éireann Debate, Tuesday - 23 October 2012

Tuesday, 23 October 2012

Questions (153)

Gerry Adams

Question:

153. Deputy Gerry Adams asked the Minister for Finance further to Parliamentary Question No. 232 of the 22 May 2012 acknowledging that Goldman Sachs has acted as a consultancy firm for his officials in the Department of Finance, if he will confirm if Goldman Sachs has acted as an advisor on any topic related to the former Anglo or Irish Nationwide now known as IBRC; if he will confirm if Goldman Sachs have ever acted directly as an advisor to IBRC, now or since Anglo and Irish Nationwide were nationalised; if he will confirm if Goldman Sachs are precluded from bidding or being part of a consortium bidding for loans in State owned financial institutions such as IBRC where they may have acted as an advisor in the past; and if he will make a statement on the matter. [45954/12]

Written answers

Minister for Finance

Goldman Sachs was not engaged by the Department of Finance as an advisor on any topic related to the former Anglo or Irish Nationwide now known as IBRC. I have also been advised that since nationalisation, neither the former Anglo Irish Bank Corporation Limited nor IBRC has engaged Goldman Sachs to provide advisory services to the Bank. Prior to its merger with Anglo Irish Bank in July 2011, the former Irish Nationwide Building Society did engage Goldman Sachs in 2010 and 2011. I have been informed that Goldman Sachs is not precluded from bidding for loans which IBRC may decide to sell at a future date.