Former Irish Nationwide director Michael Fingleton dies at 88
Michael Fingleton, the former managing director of Irish Nationwide Building Society, has passed away at age 88. He was a central figure in the Irish financial sector, known for expanding the lender before its collapse during the 2008 financial crisis.
Why it matters
Fingleton's career is a significant case study in the Irish banking collapse, highlighting the risks of aggressive property-sector lending.
Michael Fingleton, the former managing director of the now-defunct Irish Nationwide Building Society, has died. He was 88.
Fingleton died on Sunday, seven years after he was incapacitated by a stroke.
Fingleton led Irish Nationwide between 1971 and 2009 , turning a small building society into one of the State's main lenders to boomtime property developers, with a peak asset base of 16 billion - before collapsing during the financial crash at a cost to taxpayers of 5.4 billion.
Born in Tubbercurry, Co Sligo, the son of a Garda was sent at the age of 13 to boarding school at St Nathy's College in Ballaghadereen, Co Roscommon, before following the path of many smart men of his generation by entering the All Hallow seminary in Dublin. He left before taking his vows.
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