Des Traynor was an Irish banker, financier and accountant known for his dealings with Charles Haughey and his involvement in the "Ansbacher Affair".
16 Facts About Des Traynor
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Des Traynor was born James Desmond Traynor on 3 June 1931 in Dublin.
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Des Traynor's parents were John Joseph and Kathleen Traynor who lived at 39 Grand Canal Street, Dublin.
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Des Traynor married Doreen, and lived at Kilronan, Howth Road, Clontarf, Dublin.
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Des Traynor became a partner in the accountancy firm by 1961, with a growing network of business contacts through Haughey, who brought many high profile clients to the firm.
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Des Traynor joined the board of directors of Matt Gallagher's building firm, the Gallagher Group, in 1961, later joining the board of property developer John Byrne's Carlisle Trust Ltd and Dublin City Estates.
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In 1969, Des Traynor was appointed as co-managing director of the bank, serving until 1986.
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Charles Haughey 8.
Des Traynor oversaw the incorporation of the Guinness Mahon Cayman Trust, a bank in the Cayman Islands, in 1970.
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Des Traynor was appointed chairman, with John Collins and John Furze as managers.
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Des Traynor was appointed to the new board of the newly merged Roadstone Ltd and Irish Cement Ltd in 1970, to aid in the tensions around the merger caused by directors from the two previous companies.
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Guinness Mahon Cayman Trust was given a banking licence, and Des Traynor devised a discretionary trust operation which enabled clients to avoid the high Irish tax by moving their money offshore to the Caymans.
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Des Traynor insisted that no transfers had taken place since the implementation of the exchange controls in 1972.
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The secrecy of the loan accounts and associated deposits were noted, and again Des Traynor assured the inspectors no transfers had taken place since 1972.
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Des Traynor was appointed chair of Cement Roadstone Holdings in 1987, continuing to manage the offshore accounts from his office as chair at 42 Fitzwilliam Square.
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Des Traynor served as a director to Aer Lingus from 1982, New Ireland Holdings, and Marlborough Holdings.
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Des Traynor himself paid his personal taxes, and kept his own money in Ireland with the ICS building society.