One More Thing:Former Anglo Irish Bank colleagues David Drumm and Tiarnan O'Mahoney could not have had more contrasting fortunes last week.
On Wednesday, Drumm unveiled stunning results at Anglo. Its pretax profit was just more than €1.2 billion and the share price bounced 10 per cent.
The following day, O'Mahoney's International Securities Trading Corporation (ISTC) petitioned the High Court for the appointment of an interim examiner. Its debts stand at €871 million.
In 2004, Drumm and O'Mahoney were rivals in the race to succeed Seán Fitzpatrick as Anglo's chief executive. Drumm won the day over his more experienced colleague and two other internal candidates.
O'Mahoney had spent 20 years with the bank, was its chief operating officer and was regarded as one of the driving forces behind its rise over the previous decade.
After a decent period, O'Mahoney quietly took his leave of Anglo before re-emerging as the brains behind ISTC, with the backing of some of Ireland's wealthiest businessmen.
He raised €165 million for the venture and seemed set to make a killing until the recent credit squeeze pulled the rug from under him.
Drumm's appointment three years ago surprised many. Events of the past couple of weeks would suggest that Anglo's board of directors chose wisely.
