As 2011 continued, Bank of Ireland remained under intense funding pressure and it looked like it was going to be nationalised. This would have been a disaster for Ireland as all its other banks were either nationalised or effectively nationalised. Bank of Ireland’s Richie Boucher was however working on a €1.2 billion deal to save the bank by attracting a consortium led by Canadian billionaire Prem Watsa, American financier Wilbur Ross, and other United States-based investors along with their Irish advisors Cardinal Capital. It was an all-hands-on-deck approach. Mullin coordinated a small raise from Irish clients of the bank that…

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