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Philip Smith, chief executive of RSA Insurance Group Inc.'s Irish unit, has resigned and said he had been made the "fall guy" after alleged accounting irregularities in the unit, The Guardian reported.
Mr. Smith said he "became the 'fall guy'" when the recent problems arose, and "this opinion was arrived at irrespective of my involvement or otherwise." Meanwhile, RSA has said it will "continue to work constructively with the Central Bank of Ireland on this investigation" and is searching for a successor to Mr. Smith.