Financial regulator Matthew Elderfield is, as we write, conducting an online interview with Reuters.
And he’s just unleashed this humdinger:
“There are some notable examples of Irish financial companies who have suffered over dominant CEOs, or ineffective challenge in the Board room. Poor governance at the Irish banks was exacerbated by the concentrated nature of corporate life in Ireland, with challenge and awkwardness in the Board room perhaps blunted by the social constraints of working and living in a small business community in a small country.”
Translation: All these guys played golf together
Matthew Elderfield Live Interview (Reuters)
