– Anglo Irish acquired Ansbacher Bankers, which was established in Dublin in 1950. 1998 – Anglo Irish acquired Crédit Lyonnais (Austria) and combined it with its existing Austrian operations. 1999 – Anglo Irish acquired Smurfit Paribas Bank, a joint-venture that Banque Paribas had helped establish in Dublin in 1983. Anglo Irish also bought a loan portfolio from Bayerische Hypo- und Vereinsbank. 2001 – Anglo Irish acquired Banque Marcuard Cook & Cie. in Geneva, Switzerland, and renamed it Anglo Irish Bank (Suisse). 2005 – Chief Executive Seán FitzPatrick stepped down to assume the role of chairman. David Drumm replaced him as CEO. 2007 – In January, it was reported that Seán Quinn bought a 5% stake of Anglo Irish Bank for US$750 million. In July 2008 Quinn converted investments in the bank to ordinary shares, increasing his family's stake to 15%. 2007- Later in the same January, consultants Oliver Wyman named Anglo Irish Bank as the best-performing bank in the world over the past five years in a piece of research published to coincide with the World Economic Forum in Davos, Switzerland. 2008 – In September, Anglo Irish sells Anglo Irish Bank Austria (AIBA) to Swiss bank: Valartis Bank A.G. 2008 – In December, both FitzPatrick, the chairman, and Drumm, the CEO, resigned (see above). 2009 – Merrill Lynch, after receiving a fee of over US$11 million, said that the bank was "financially sound", 11 days before nationalisation. 2009 – The Irish Government nationalised Anglo Irish Bank at which point the Irish Stock Exchange and the London Stock Exchange delisted the bank. On 19 January the Board of Directors resigned to allow the Government to appoint a new board. 7 September 2009 – Mike Aynsley appointed as new Group Chief Executive. 2010 – Alan Dukes appointed Chairman 18 March 2010 – Former chairman Sean FitzPatrick is arrested for fraud. 31 March 2010 – At €12.7 billion, Anglo posts the largest loss in Irish corporate history. 2 June 2010 – Irish Minister of Finance, Brian Lenihan, announced a €2bn cash injection for Anglo Irish Bank. 8 September 2010 – Lenihan announced the separation into two entities. 30 September 2010 – the Irish Government announces a total estimate of the eventual cost of the Anglo Irish bailout as at least €29.3 billion, while also announcing that two other banks, AIB and Irish Nationwide, will require additional funding 31 March 2011 – For the