The involvement of Nationwide’s Belfast office in the increased lending to the United Kingdom between 2004 and 2008 will form part of the action against Mr Fingleton, who is acting through his wife and son under their powers of attorney due to his ill-health and capacity.
Nationwide’s shift away from primarily residential lending and the €8.2 billion increase in commercial lending over the five years to 2007 was part of a “high-risk” strategy that overly exposed the lender to a small number of borrowers, Mr Fitzgerald added. Mr Haren can give evidence on the risk management and corporate governance shortcomings he discovered upon joining the building society as a case manager in November 2009, Ms Byrne said.
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