The Irish Minister for Finance, Brian Lenihan, announced that the government has approved the appointment of Brendan McDonagh as interim Managing Director of the National Asset Management Agency (NAMA).
Mr Brendan McDonagh is currently Director of Finance, Technology and Risk at the National Treasury Management Agency and has played a central role in the development of the government’s policy response to the banking crises and in helping to frame the NAMA proposal.
Lenihan said:
“Preparatory work for the establishment and operation of NAMA on a statutory basis is underway. By appointing Mr McDonagh to this position the Government is ensuring the implementation process will be driven forward in the interim period pending legislation.”
The Minister added that Mr McDonagh will be assisted by a high level advisory committee to be named shortly.
The National Asset Management Agency, introduced within by April's emergency budget, will manage property loans worth up to EUR90bn. It will purchase them on behalf of the government at a reduced rate from embattled banks in exchange for government debt.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment