Two members have been appointed to a group which is to advise Minister for Finance Micheal Noonan on strategy and other matters relating to the National Asset Management Agency.
Nama chairman Frank Daly and Dennis Rooney, a quantity surveyor and former chair of the International Fund for Ireland, are to serve as members of the group on a pro-bono basis.
Michael Geoghegan, a former chief executive of HSBC Holdings, was appointed as chairman of the group recently. He carried out a private review of Nama in October. Mr Noonan said that the review was “generally positive” of Nama.
Mr Noonan announced his plan to establish the advisory group in his Budget speech in December.
It will provide him with advice on the strategy being pursued by the agency; the appointment of directors; and the remuneration of senior executives.
Mr Noonan also announced that John Mulcahy, a former chairman of Jones Lang LaSalle and now a member of the asset management division at Nama, has been appointed to the Nama board.
“I believe that Mr Mulcahy has significant property management skills which will make him an asset to the Board of NAMA as it concentrates fully on the active management of its asset portfolio,” Mr Noonan said.
