THE FORMER chief executive of Anglo Irish Bank, David Drumm, was in Dublin yesterday for a meeting with the bank’s new chief executive, Mike Aynsley.

It is understood Mr Drumm attended the meeting at the bank’s offices in Heritage House, on Dublin’s St Stephen’s Green, to discuss his personal loans from the bank.

Mr Drumm flew in from the United States to attend the meeting. It is the first such high-level meeting held with him to discuss his debt to the now nationalised bank. The size of his debt to the bank could not be confirmed.

Asked on his way into the building by The Irish Timesif he would answer a few questions, Mr Drumm declined to comment. "How did you know I would be here?" he asked.

Mr Drumm is one of a number of former directors who have substantial loans from the bank. The bank’s former finance director, Willie McAteer, owed approximately €8 million to the bank at the end of September 2009.

The bank’s former chairman, Seán FitzPatrick, is understood to owe a substantially larger sum. He at one stage was involved in a ploy to hide loans of up to €122 million from shareholders.

Last month The Irish Timesreported that eight senior serving managers at the bank owed amounts ranging from €835,000 to €7.1 million at the end of September 2008, according to internal bank records.

Mr Drumm resigned from his position at Anglo last December after it emerged that the bank had been concealing loans to Mr FitzPatrick over an eight-year period. The bank was nationalised in January.

Mr Aynsley was appointed to his post at Anglo Irish Bank in August. He is an experienced banker from Australia.

Mr Drumm was a surprise choice to succeed Mr FitzPatrick as chief executive in 2005, at the age of 39. He boldly stated his intention to double profits within five years, a target he achieved in just two.

Anglo Irish posted the largest loss in Irish corporate history this year when it made a loss of €4.1 billion in the six months to the end of March 2009 due to large impairments on its property loans.

It is expected that loans with a value of €28 billion will be transferred to the National Asset Management Agency from Anglo Irish Bank, once the agency is established.

A spokesman for the bank had no comment to make last night on Mr Drumm’s meeting with Mr Aynsley.