NAMA Operations

Dáil Éireann Debate, Tuesday - 11 March 2014

Tuesday, 11 March 2014

Questions (73)

Stephen Donnelly

Question:

73. Deputy Stephen S. Donnelly asked the Minister for Finance following publication of the Geoghegan report in 2011 which recommended the National Asset Management Agency’s board be strengthened with commercial expertise when it recommended the board needs to be comprised of different skills and it needs to balance its current control features with those of entrepreneurial skills, ideally within the property industry or, if this is not possible, within other industries, if he will confirm the way he is dealing with this recommendation when considering future appointments to the board. [11616/14]

Written answers

Minister for Finance

There are a number of factors taken into account when considering appointing members to the Board of NAMA. These include the recommendations of the Geoghegan Report as well as evidence of considerable experience of a high quality and high level of responsibility in one or more of the fields listed in Section 19(2) of the NAMA Act 2009, experience in a senior position (e.g. CEO or senior manager of a substantial company or public organisation), an understanding of management of complex organisations and an absence of any conflicts of interest. When making appointments to the board I consider all candidates who I feel have the relevant expertise and experience to contribute to the Board.