New Director of Corporate Enforcement

Ian Drennan has been appointed the new Director of Corporate Enforcement. He became Director on 29 August, replacing Paul Appleby, the first director of the Office of the Director of Corporate Enforcement (ODCE).

An accountant by profession, Drennan was the first Chief Executive Officer of the Irish Auditing and Accounting Supervisory Authority, from 2004 to 2012. He previously worked as an auditor in the Office of the Comptroller and Auditor General, the Department of Finance and several accountancy practices.

Enterprise Minister Richard Bruton said that Drennan brings “a wealth of experience in the areas of advocacy, regulation and enforcement to the role.”

Appleby, who was director since 2001, oversaw the ODCE’s investigation into certain events at the former Anglo Irish Bank. The office sent nine investigation files to the DPP, four this year and five last year. The investigative phase is now complete.

Former Anglo Irish Bank Chief Executive Seán Fitzpatrick will appear in court in October, along with two former senior executives Willie McAteer and Patrick Whelan, in connection with alleged financial irregularities at the bank.

In February, Appleby agreed to a government request to delay his retirement by six months. This was to facilitate a smooth transition in finding a replacement and to continue the Anglo investigations, which lasted three-and-a-half years. Before retiring he said that the length of time gardaí are allowed question people suspected of committing white collar crime should be increased from 24 hours to up to seven days.