Dáil Éireann Debate, Tuesday - 9 July 2013
154. Deputy Michael McGrath asked the Minister for Finance the number of Irish Bank Resolution Corporation staff who have transferred to the National Asset Management Agency; the number who are on fixed-term contracts; the number who are permanent appointees; and if he will make a statement on the matter. [33036/13]
View answer167. Deputy Pearse Doherty asked the Minister for Finance the number of staff of the former Anglo Irish Bank now employed by the National Treasury Management Agency and in the National Asset Management Agency specifically. [33120/13]
View answer168. Deputy Pearse Doherty asked the Minister for Finance if he is satisfied that none of the former Anglo Irish Bank staff taken on by the National Asset Management Agency was involved in the events that led up to the failure of Anglo Irish Bank. [33121/13]
View answerI propose to take Questions Nos. 154, 167 and 168 together.
Twenty National Treasury Management Agency (NTMA) staff assigned to the National Asset Management Agency (NAMA) have been recruited directly from the Irish Bank Resolution Corporation (IBRC) or its predecessor entities. All of these staff have been recruited on the basis of specified purpose contracts.
The issue of a transfer of staff from IBRC to NAMA does not arise. Prior to the appointment of the Special Liquidators to IBRC on 7 February 2013, IBRC provided primary servicing (loan administration services) on NAMA loans with nominal balances of €41 billion and provided special servicing (debtor engagement) on €5.1 billion of this portfolio. These services are now being moved to Capita Asset Services which was appointed by NAMA in March as back-up servicer to the existing IBRC portfolio. Capita is currently recruiting staff, both within IBRC and elsewhere. As part of the new arrangements, NAMA has decided to assume certain oversight functions in relation to this portfolio and, arising from this, positions have been advertised and applications have been received from IBRC staff. I am advised that this process is still ongoing and that of 27 offers made to IBRC staff to date 10 have been accepted and 17 have been declined.
In addition, as part of the Government’s decision in February to appoint the Special Liquidators, it was decided that NAMA would acquire any loans which were unsold after the Special Liquidators had completed a loan valuation and sales process. The loan valuation process is currently underway and I am advised that additional positions are likely to become available in NAMA and in its service providers after the loan sales process has concluded and NAMA has acquired any unsold loans.
It is a matter for the NTMA, as employer, to satisfy itself as to the suitability of the staff it recruits, including staff assigned to NAMA. Section 42 of the NAMA Act requires the NTMA to ascertain to its satisfaction that the staff it proposes to assign to NAMA are of good character and have not been convicted of any offence likely to render them unfit or unsuitable, have not been disqualified or restricted from acting as a director under the Companies Acts and have no material conflicts of interest, whether actual or potential. In addition, under section 42(3), a member of staff of the NTMA is required to provide a statement of his or her interests, assets and liabilities before being assigned to NAMA.
