Gerry Gannon, so-called 'man in the hat', is an Irish builder and property developer since the 1980s. Gannon plays a significant and leading role in the build-up and demise of the Irish property bubble

Irish property bubble

The property bubble in the Republic of Ireland began in 2000 and peaked in 2006, as with many other western European countries, with a combination of increased speculative construction and rapidly rising prices....

. Gannon was at the center of the Anglo Irish Bank hidden loans controversy

Anglo Irish Bank hidden loans controversy

The Anglo Irish Bank hidden loans controversy began in the Republic of Ireland in December 2008 when the chairman of Anglo Irish Bank, Ireland's third largest bank, admitted he had hidden a total of €87 million in loans from the bank, triggering a series of incidents which led to the eventual...

, which is a contributing element in the development for the 2008–2011 Irish banking crisis.

Background and family life

Gerry Gannon is a native of County Roscommon

County Roscommon

County Roscommon is a county in Ireland. It is located in the West Region and is also part of the province of Connacht. It is named after the town of Roscommon. Roscommon County Council is the local authority for the county...

 and married to Margaret Gannon. Gannon started his builder activities in the 1980s in London

London

London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

 while working for his father's construction firm. Gannon and Michael Smurfit jointly own the Kildare Hotel and Golf Club - K Club.

Building activity

In 1986, through the firm Structural Developments Ltd build at Castle Village in Celbridge. In 1988 through another firm – Noteworthy Limited – with partner Michael Anglim, Gannon planned to build 710 houses at Brackenstown close to Swords. At the time it was one of the largest schemes submitted to Dublin County Council. Permission was granted for the scheme in October 1988. The scheme at the time was said to be worth upwards of £40 million. The site on which the houses were built was bought by Noteworthy Ltd as a parcel of land in 1987. The land was zoned for residential purposes in 1983 against the recommendation of the Council’s planning officials. In April 1990, Gannon, now trading through Gannon Homes, sought permission for a £70 m residential scheme and a shopping centre on a 110-acre site on the Malahide road. The scheme involved 915 houses on a 95-acre site fronting the Malahide Road and the Hole in the Wall road at Ayrfield. They also lodged planning applications for a drive-in restaurant, a pub and a library. The firm bought the land from two sites. The 95 acres were bought from Abbey Group and the 15-acre site was the site of the former Clare Manor Hotel.

Maple 10, Anglo 10 or the Golden Circle

The 'Maple 10', also known as the Anglo 10 or the Golden Circle, was a group of Irish investors. The Maple 10 besides Gerry Gannon include Seamus Ross, John McCabe, Paddy McKillen, Jerry Conlan, Joe O’Reilly, Patrick Kearney, Paddy Mc Killen, Brian O’Farrell, Gerry Maguire and Sean Reilly. The Irish Office of the Director of Public Prosecutions (DPP) examines the file on Anglo's "Maple 10" deals.

Transfer of assets to wife Margaret

As reported by the Irish Independent newspapers on February 20, 2011, "a portfolio of properties worth about €12m was transferred into the name of developer Gerry Gannon's wife, Margaret, between 21 May and 10 December 2009".