Lochlann Quinn
{{Short description|Irish businessman and philanthropist}}
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Lochlann Quinn (born 1940) is an Irish businessman and philanthropist best known for serving as chairman of Allied Irish Banks (AIB) and the Electricity Supply Board (ESB). A chartered accountant and University College Dublin graduate, he played a significant role in expanding Glen Dimplex, a global heating and domestic appliances firm. Quinn is also a major benefactor to UCD after whom the Lochlann Quinn School of Business is named and holds substantial interests in hospitality and property. He is the brother of politician Ruairi Quinn and father of former Dublin Lord Mayor Oisín Quinn.
Education
Quinn attended Blackrock College, and graduated from University College Dublin (BComm) in 1962. He qualified as a Chartered Accountant in 1966. He is main benefactor of the UCD Quinn School of Business.[http://www.smurfitschool.ie/aboutsmurfit/advisoryboards/ireland/lochlannquinn/ Smurfit Business School] {{webarchive|url=https://web.archive.org/web/20090503131443/http://www.smurfitschool.ie/aboutsmurfit/advisoryboards/ireland/lochlannquinn/ |date=3 May 2009 }} On Friday, April 24, 2009, the President of Ireland, Mary McAleese, presented the UCD Ulysses Medal, the highest honour that the university can bestow, to Quinn and Sir Michael Smurfit.[http://www.corporatereputations.ie/news_item.php?id=88 Medal] {{webarchive|url=https://web.archive.org/web/20110721123202/http://www.corporatereputations.ie/news_item.php?id=88 |date=21 July 2011 }}
Career
Quinn joined Arthur Andersen & Co. in London and, in 1969, he returned to Dublin to head up their audit practice in Ireland until 1980. In 1980, he joined Glen Dimplex – a small, privately owned Irish company – as deputy chairman and finance director. The company now{{When|date=September 2011}} has annual sales of $1.3 billion and employs 8,000 people in Europe and Canada. Quinn was one of two shareholders but in 2004 sold his interest back to Martin Naughton.{{cite news |title=Glen Dimplex shares net Quinn ?200m |url=https://www.independent.ie/irish-news/glen-dimplex-shares-net-quinn-200m/25897832.html |work=Irish Independent |date=14 September 2004 |language=en}}{{cite news |title=Glen dimplex founder takes back full control |url=https://www.belfasttelegraph.co.uk/news/glen-dimplex-founder-takes-back-full-control/28045774.html |work=BelfastTelegraph.co.uk |date=14 September 2004}} Quinn is also a former director of AIB Bank (1995–96), former chairman of Allied Irish Banks Group, and half-owner of The Merrion Hotel.
=AIB=
Following the fraudulent trading activities at AIB's American subsidiary - AllFirst - both Quinn and the Chief Executive, Michael Buckley, offered their resignations to the board of AIB on Tuesday, March 12, 2002, but were asked to stay on by the board.{{Cite web|url=http://www.4ni.co.uk/northern_ireland_news.asp?id=10033|title = AIB sacks six executives over trading losses at Allfirst}}
Private business interests
Quinn's business interests include the Merrion Hotel in Dublin; commercial properties in Dublin, London and Brussels; and a vineyard in Bordeaux (Château de Fieuzal).[http://www.thewinedoctor.com/bordeaux/fieuzal.shtml Owner of Chateau de Fieuzal]
Since January 22, 2008, he has been the chairman of the Electricity Supply Board (ESB).[http://www.businessandfinance.ie/index.jsp?p=222&n=227&a=531 ESB Chairman] {{webarchive|url=https://web.archive.org/web/20110721122852/http://www.businessandfinance.ie/index.jsp?p=222&n=227&a=531 |date=21 July 2011 }}
In 1991, it was reported that Quinn was a shareholder in a company called United Property Holdings, one of the firms at the center of the Johnston Mooney & O'Brien scandal. The company made a £2 million profit on the first deal involving the site in Ballsbridge, Dublin. Other shareholders included Dermot Desmond, Smurfit Paribas Investment Management, Glen Dimplex founder Martin Naughton and horse breeder John Magnier. Joe Lewis was also reported to be a shareholder.{{cite news| url = https://www.irishtimes.com/newspaper/archive/1991/0921/Pg001.html#Ar00104:40B78742879C43378746579C| title = The Irish Times - Saturday, September 21, 1991 - Page 1| newspaper = The Irish Times}}
Voluntary roles
Quinn is a major benefactor to,[http://www.nationalgallery.ie/html/press5.html National Gallery of Ireland donation] {{webarchive|url=https://web.archive.org/web/20090706024047/http://www.nationalgallery.ie/html/press5.html |date=6 July 2009 }} and former chairman of, the National Gallery of Ireland.[http://www.dast.gov.ie/publications/release.asp?ID=100603 Minister for Arts, Sports and Tourism - speech] {{webarchive|url=https://web.archive.org/web/20110721124722/http://www.dast.gov.ie/publications/release.asp?ID=100603 |date=21 July 2011 }} He was also chairman (1997–2003) of the Irish Museum of Modern Art (1990–2000). He is a member of the Irish Advisory Board of the UCD Michael Smurfit Graduate School of Business.[http://www.smurfitschool.ie/aboutsmurfit/advisoryboards/ireland UCD Michael Smurfit Graduate School of Business] {{webarchive|url=https://web.archive.org/web/20100214041918/http://www.smurfitschool.ie/aboutsmurfit/advisoryboards/ireland/ |date=14 February 2010 }}
Personal life
Quinn is married to Brenda, and they have six children. He is a brother of Ruairi Quinn, and first cousin of Feargal Quinn. His son Oisín Quinn is a former councillor on Dublin City Council and former Lord Mayor of Dublin.
References
{{Reflist}}
External links
- [https://web.archive.org/web/20060221081223/http://archives.tcm.ie/businesspost/2002/12/29/story395613528.asp Quinn's personal investments: The Sunday Business Post]
- [http://www.aibgroup.com/servlet/ContentServer?pagename=AIB_Investor_Relations/Miscellaneous/ir_pressrelease_print&c=AIB_Press_Releas&cid=1015597171590&channel=IRCA&position=last Issues raised by fraudulent trading activities at AllFirst, 14 March 2002]
- [https://web.archive.org/web/20100905022750/http://archives.tcm.ie/businesspost/2002/12/29/story354613528.asp Quinn's worth], Sunday Business Post, Saturday, 28 December 2002
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Category:20th-century Irish businesspeople
Category:21st-century Irish businesspeople
Category:Alumni of University College Dublin
Category:Businesspeople from County Dublin
Category:People educated at Blackrock College